Where net asset value or qualifying assets falls below required amount
13.—(1)  If a licensed trust company fails, or becomes aware that it will fail, to comply with regulation 12(1) or (2), as the case may be, the licensed trust company shall immediately notify the Authority in Form 2.
(2)  If the Authority is notified by a licensed trust company under paragraph (1) or becomes aware that the licensed trust company has failed to comply with regulation 12(1) or (2), as the case may be, the Authority may —
(a)direct the licensed trust company to immediately do one or more of the following:
(i)submit such statements or reports on a weekly basis or at such other intervals as the Authority may require until the licensed trust company meets the requirements in regulation 12(1) or (2), as the case may be;
(ii)operate its business in such manner and on such conditions as the Authority may impose; or
(b)revoke or suspend the licence of the licensed trust company under section 10(2)(d) of the Act.
(3)  The Authority may revoke or suspend the licence of a licensed trust company under section 10(2)(d) of the Act if the licensed trust company fails to comply with a direction issued to it by the Authority under paragraph (2)(a).