[(1) The FCA may give a direction under this section if it appears to the FCA that—
(a) one or more of the requirements for the making of an authorisation order are no longer satisfied;
(b) the operator or depositary of an authorised contractual scheme has contravened, or is likely to contravene, a requirement imposed—
(i) by or under this Act; . . .
(ii) by [UCITS-related direct EU legislation]; [or
(iii) by the MMF Regulation or any directly applicable regulation or decision made under that Regulation [which constitutes retained direct EU legislation];]
(c) the operator or depositary of such a
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