(1) Without prejudice to the power of the Bank under Regulation 53 to withdraw an authorisation, the Bank may apply to the Court in a summary manner for an order revoking an authorisation to operate a regulated market if the revocation is expedient -
(a) in the interests of the proper and orderly regulation and supervision of the market operator and the regulated market,
(b) in order to protect investors, or
(c) in one or more of the circumstances described in paragraph (2).
(2) The circumstances referred to in paragraph (1) are as follows:
(a) the market operator has been convicted on indictment of any offence -
(i) under these Regulations,
(ii) under any enactment or Regulation under which the Bank exercises statutory functions, or
(iii) involving fraud, dishonesty or breach of trust;
(b) circumstances have materially changed since the granting of the authorisation such that, if an application for the authorisation were made at the time of the application to the Court, a differe