[71D Sections 71B and 71C: conditions]
[71D Sections 71B and 71C: conditions]

[(1)     The condition in this subsection is met in relation to a relevant firm or a parent undertaking if—

(a)     there is a deterioration in the financial situation of the relevant firm or the parent undertaking which is a significant deterioration, or

(b)     there is a serious infringement by the relevant firm or the parent undertaking of—

(i)     a relevant requirement, or

(ii)     its memorandum or articles of association or other constituent instrument.