[(1) This section applies if a regulator is satisfied that a person who is or has been a qualifying parent undertaking (“P”) has contravened—
(a) a requirement of a direction given to P by that regulator under section 192C, . . .
(b) a provision of rules made by that regulator under section 192J [or 192JB][, or
(c) a requirement imposed by a [qualifying provision] specified, or of a description specified, for the purposes of this subsection by the Treasury by order].
[(1A) This section also applies if a regulator is satisfied that a person (“P”) who is or has been a parent undertaking of a ring-fenced body has contravened a provision of rules made
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