48. Variation of Approval on initiative of Regulator

(1) The Regulator may vary an Approval given under section 45 if the Regulator considers that it is desirable to do so in order to further one or more of its objectives.
(2) The Regulator may vary an Approval by —
(a) imposing a condition;
(b) varying a condition;
(c) removing a condition; or
(d) limiting the period for which the Approval is to have effect.
(3) A condition may, in particular, be imposed so as to require any person to take, or refrain from taking, specified action.