(a) The depositary must enquire into the conduct of the general partners in the management of the investment limited partnership in each annual accounting period and report thereon to the limited partners.
(b) The depositary’s report shall be delivered to the general partner in good time to enable it to include a copy of the report in the Annual Report required under section 16.
(c) The depositary’s report shall state whether in the depositary’s opinion the general partner has managed the investment limited partnership in that period -
(i) in accordance with this Act or regulations made hereunder, directions of the Bank or the partnership agreement the limitations imposed on the investment and borrowing powers of the general partner and depositary by the partnership agreement or directions of the Bank, and
(ii) otherwise in accordance with the provisions of the partnership agreement and this Act,
and, if it has not done so, in what respect in which it has not done so and the
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