(1) Where the solvency margin of an undertaking which is the holder of an authorisation and has its head office in the State falls below the guarantee fund as defined in Article 19 of these Regulations, the Bank may require the undertaking to submit to it for its approval a short-term finance scheme.
(2) In a case referred to in subarticle (1) of this Article, the Bank may also restrict or prohibit the free disposal of the assets of the undertaking, and the undertaking or the authorised agent referred to in Article 11 of these Regulations shall comply with any directions of the Bank in this regard.
(3) The Bank may, when it considers it necessary to do so in order to safeguard the interests of persons insured by the undertaking, give a direction to the undertaking -
(i) to suspend the taking on of new business,
(ii) to furnish deposits,
(iii) to furnish information to the Bank, or
(iv) to take such further measures as may be specified in the direction,
and the undertaking or the a