An authorisation held by an undertaking whose head office is situated in the State may be revoked by the Bank if the Bank is satisfied that the holder -
(a) has not used the authorisation for the last twelve months, has expressly renounced the authorisation or has ceased to carry on business covered by the authorisation for more than six months,
(b) no longer fulfils the conditions required by the Insurance Acts and Regulations for the granting of an authorisation,
(c) has been unable, within the time allowed, to take the measures contained in the restoration plan or finance scheme referred to in Article 36 of these Regulations, or
(d) fails seriously in its obligations under the Insurance Acts and Regulations.