194 General grounds on which power of intervention is exercisable
194 General grounds on which power of intervention is exercisable

(1)     The [appropriate regulator] may exercise its power of intervention in respect of an incoming firm if it appears to it that—

(a)     the firm has contravened, or is likely to contravene, a requirement which is imposed on it by or under this Act (in a case where the [appropriate regulator] is responsible for enforcing compliance in the United Kingdom);

(b)     the firm has, in purported compliance with any requirement imposed by or under this Act, knowingly or recklessly given the [appropriate regulator] information which is false or misleading in a material particular; or

[(c)     it is desirable to exercise the power in order to [advance—

(i)     in the case of the FCA, one or more of its operational objectives, and

(ii)     in the case of the PRA, any of its objectives]].

. . .
203 . . .