(2) The Regulator may, subject to (3) and (4), at any time by written notice to an Authorised Person:
(a) impose an Individual Capital Requirement; or
(b) vary or withdraw an Individual Capital Requirement.
(3) The Regulator may act under (2) on its own initiative where the Regulator forms the view that the Capital Requirement of the Authorised Person is insufficient to address adequately all its risks.
(4) The Regulator will, where prescribing an Individual Capital Requirement, also specify in the notice the types and amounts of Capital Resources required to meet the Individual Capital Requirement.
(5) If the Regulator decides to exercise its power under (2) after a Financial Services Permission has been granted, the Authorised Person may refer the matter to the Court for review.