(1) The Bank may replace a general partner or depositary with another general partner or depositary where -
(a) it is satisfied that the general partner or depositary has failed to demonstrate the competence, probity or experience in the discharge of their functions reasonably required of them,
(b) it is satisfied that they are not of sufficiently good repute,
(c) it is satisfied that it is undesirable in the interests of the limited partners that the person should remain as general partner or depositary,
(d) without prejudice to paragraph (c), it is satisfied that the general partner or depositary has contravened any provision of this Act or regulations made thereunder or, in purported compliance with any such provision, has furnished the Bank with false, inaccurate or misleading information or has contravened any prohibition or requirement imposed under this Act or regulations made hereunder.
(2) Upon replacement by the Bank under this section of a general partner or depositary, that
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