(1) The FCA may revoke an order made under section 271A in relation to a collective investment scheme if -
(a) the FCA is no longer satisfied that the conditions set out in section 271G(2)(a) to (c) are met,
(b) it appears to the FCA that a requirement relating to the scheme or its operator imposed by or under this Act has not been satisfied,
(c) it appears to the FCA that the operator of the scheme has, in purported compliance with any such requirement, knowingly or recklessly given the FCA information which is false or misleading in a material particular, or
(d) although none of paragraphs (a) to (c) applies, the FCA considers it desirable to revoke the order to protect the interests of participants or potential participants in the United Kingdom.
(2) If the FCA proposes to revoke an order made under section 271A, it must give a warning notice to -
(a) the operator of the scheme, and
(b) the trustee or depositary of the scheme (if any).
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