that it appears to the F2Treasury that the company has failed to satisfy an obligation to which it is subject by virtue of this Act F3or the Financial Services Act 1986 or, if it is a member of a recognised self-regulating organisation within the meaning of that Act, an obligation to which it is subject by virtue of the rules of that organisation;

that the company is a UK or non-EC company and it appears to the F2Treasury that any of the criteria of sound and prudent management F5is not or has not been fulfilled, or may not be or may not have been fulfilled, in respect of the company.

that there exists a ground on which F6the Treasury would be prohibited by F7 section 5(1B) or (1C), 7, 8 or 9 above from issuing an authorisation to the company;

that the company has ceased to be authorised to effect contracts of insurance, or contracts of a particular description, in a member State where it has its head office or where it has in accordance with section 9(2) above made a deposit.

that the company is a Swiss general insurance company which has ceased to be authorised to effect contracts of insurance, or contracts of a particular description, in Switzerland.

a company which has its head office, or has in accordance with section 9(2) above made a deposit, in a member State other than the United Kingdom; or

a Swiss general insurance company, the F2Treasury may revoke or vary the direction if after consultation with the supervisory authority in that member State or, as the case may be, in Switzerland F11the Treasury consider it appropriate to do so.

whose head office is in Switzerland;

which is authorised under section 3 or 4 above to carry on general business; and

whose authorisation is not restricted to reinsurance business.

that F15they are considering giving a direction and the ground on which F15they areconsidering it; and

that the company may, within the period of one month from the date of service of the notice, make written representations to the F14Treasury and, if the company so requests, oral representations to an officer of the F16Treasury appointed for the purpose by the F14Treasury.

that F15they are considering giving a direction on that ground; and

that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the F14Treasury and, if that person so requests, oral representations to an officer of the F16Treasury appointed for the purpose by the F14Treasury

that the company is a UK or non-EC company and it appears to the F14Treasury that the second or third criterion of sound and prudent management is or has not been fulfilled, or may not be or may not have been fulfilled, in respect of the company; and

that there exists a ground on which the F14Treasury would be prohibited by section 7(3), 8(2) or 9(5) above from issuing an authorisation to the company.

that one of the grounds in section 11(2) above exists in relation to the company: and

that the authorisation should be suspended as a matter of urgency,

shall not prevent a company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance; and

unless confirmed by the F25Treasuryunder subsection (6) below, shall cease to have effect at the end of the relevant period.

the ground on which the direction is given; and

that the company may, within the period of one month from the date of service of the notice, make written representations to the F25Treasury and, if the company so requests, oral representations to an officer of the F27Treasury appointed for the purpose by the F25Treasury.

the ground for giving the direction; and

that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the F25Treasury and, if that person so requests, oral representations to an officer of the F27Treasuryappointed for the purpose by the F25Treasury.

a UK company ceases to carry on insurance business or insurance business of any class in the European Community; or

an insurance company which is not a UK company ceases to carry on insurance business or insurance business of any class in the United Kingdom,

a body authorised under section 3 above to carry on insurance business of any class has not at any time carried on insurance business of that class, and at least twelve months have elapsed since the issue of the authorisation; or

a body authorised under section 4 above to carry on insurance business of any class has not at any time since the commencement of this Act carried on business of that class,