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PART IV
Administration
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Variation of partnership agreement and change in general partner or custodian.
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11.—(1) Notwithstanding any provision therein to the contrary, a partnership agreement may only be varied by instrument in writing signed by or on behalf of each of the partners to the partnership agreement.
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(2) No alteration in the partnership agreement or change in the name of the investment limited partnership shall be made or take effect without the prior approval of the Bank.
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(3) A general partner or custodian of an investment limited partnership may not be replaced by another general partner or custodian, nor may additional general partners be admitted to such partnership or additional custodians be appointed, without the prior approval of the Bank.
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(4) Where a person is admitted to partnership as a general partner or causes or permits a general partner to be admitted to partnership of an investment limited partnership without the prior approval of the Bank, he shall be guilty of an offence.
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