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Revocation of authorisation.
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29.—(1) The Bank may revoke the authorisation of an investment limited partnership if it appears to the Bank—
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(a) that any of the requirements for the authorisation of the investment limited partnership are no longer satisfied,
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(b) that it is undesirable in the interests of the limited partners that the investment limited partnership should continue to be authorised,
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(c) without prejudice to paragraph (b), that the general partner or custodian of the investment limited partnership has contravened any provision of this Act or conditions imposed hereunder 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.
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(2) The Bank may revoke the authorisation of an investment limited partnership at the request of the general partner or custodian, but it may refuse to do so if it considers that any matter concerning the investment limited partnership should be investigated as a preliminary to a decision on the question of whether the authorisation should be revoked or that revocation would not be in the interests of the limited partners.
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(3) The Bank shall, within five days of the revocation of an authorisation, publish notice of that revocation in Iris Oifigiúil and in at least one national daily newspaper.
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