Section 225

The Authority may direct that a collective investment scheme is to cease to be recognised or revoke a recognition order under section 223 if it appears to the

Authority-

{a)

that the operator or the custodian of the collective investment scheme has contravened a requirement imposed on him by or under this

Order;

{b)

that the operator or the custodian of the collective investment scheme has, in purported compliance with any such requirement, knowingly or recklessly given the Authority information which is false or misleading in a material particular;

{c)

in the case of a recognition order, that one or more of the requirements for the making of the order are no longer satisfied; or

{d)

that none of paragraphs {a) to {c) applies, but it is undesirable in the interests of the participants or potential participants that the collective investment scheme should continue to be recognised.

Procedure for refusal of recognition.