[261X Directions]

[Powers of intervention]

[[261X  Directions]

[(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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