[261X Directions]
[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 any directly applicable EU regulation or decision made under the UCITS directive [UCITS-related direct EU legislation]; [or