Section 11 Withdrawal of authorisation in respect of new business.C1

that it appears to the Treasury that the company has failed to satisfy an obligation to which it is subject by virtue of this Act F2or 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 company and it appears to the Treasury that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another EEA State which—

that the company is a UK or non-EC company and it appears to the Treasury that any of the criteria of sound and prudent management F4is 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 F5the Treasury would be prohibited by F6 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 Treasury 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 F10the 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.