The Authority, on its own initiative, may determine that a facility is a major hazard facility if—
(a) the Authority becomes aware that Schedule 14 materials are present or likely to be present at the facility in a quantity exceeding 10% of their threshold quantity but not exceeding their threshold quantity; and
(b) the Authority forms the opinion that there is a potential for a major incident to occur at the facility, having regard to all or any of the following —
(i) the quantity or combination of Schedule 14 materials present or likely to be present at the facility;
(ii) the type of activity within the facility that involves those materials;
(iii) the land use and activities of occupancy in the area surrounding the facility.