(1) The auditors of an insurance undertaking or reinsurance undertaking shall report promptly to the Bank any fact or decision concerning that undertaking of which they have become aware while carrying out an audit of the undertaking and which is liable to bring about any of the following:

(a) a material breach of the laws, regulations or administrative provisions which lay down the conditions governing authorisation or which specifically govern pursuit of the activities of insurance undertakings and reinsurance undertakings;

(b) the impairment of the continuous functioning of the insurance undertaking or reinsurance undertaking;

(c) a refusal to certify the accounts or the expression of reservations;

(d) non-compliance with the Solvency Capital Requirement;

(e) non-compliance with the Minimum Capital Requirement.