(1) Where the Bank proposes to revoke the authorisation of an investment limited partnership other than at the request of the general partner or depositary under section 29, or to replace a general partner and depositary under section 30, it shall give the general partner and depositary notice of its intention to act and, where it proposes to replace a general partner or depositary under section 30 the identity of the proposed new general partner or depositary.
(2) Upon receipt of such notification, the general partner shall cause forthwith the limited partners to be informed of the receipt of such notice from the Bank.
(3) A partner or depositary may, within fifteen days of the date of service of a notice pursuant to subsection (1), make written representations to the Bank which period, in the case of representations by a limited partner, the Bank may extend.
(4) The Bank shall have regard to any representations made in accordance with subsection (3) in determining whether to revoke
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