SCHEDULE 5Amendment of authorisation
1Application
This schedule applies where the Scottish Ministers are satisfied that—
a
an act or omission of an approved regulator (or a series of acts or omissions) has had, or is likely to have, an adverse impact on the observance of any of the regulatory objectives, and
b
the matter cannot be addressed adequately by the Scottish Ministers taking any of the measures mentioned in section 38(4)(a) to (d).