[(1) A regulator may at any time with the consent of the person concerned vary—
(a) a requirement imposed by it as a result of section 142L(2)(a) or (b) or (3)(a) or (b), or
(b) a direction given by it as a result of section 142L(2)(c) or (d) or (3)(c) or (d).
(2) The person concerned may at any time apply to the appropriate regulator for the variation of—
(b) a direction given by it as a result of section 142L(2)(c) or
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