(1) A depositary shall not have a director who is also simultaneously a director of -
(a) the relevant management company,
(b) the relevant administration company, or
(c) the relevant UCITS investment company.
(2) The termination of the appointment of a depositary shall only be permitted-
(a) upon the revocation of the authorisation of a UCITS, or
(b) upon the appointment of a replacement depositary.