(1) The Bank may withdraw an authorisation, granted under Regulation 11 to operate as an investment firm if the firm -
(a) fails to operate as an investment firm during the 12 month period following after the date of the authorisation,
(b) expressly renounces the authorisation,
(c) obtained the authorisation by making false statements or by any other irregular means,
(d) no longer meets the conditions under which the authorisation was granted or the prerequisites to authorisation listed in Regulation 13(a) to (i).
(e) is being wound up, or
(f) has seriously or systematically infringed the provisions of these Regulations governing the operation of investment firms.
(2) Other than in the circumstances outlined in paragraph (1) (a), the Bank may withdraw an authorisation, granted under Regulation 11, to operate as an investment firm if the firm has not provided investment services for the immediately preceding 6 months.
(3) Every authorisation withdrawn by the Bank under this Regulat