(1) A general partner may not pursue any business in the company’s line of business for their own account or that of others without having obtained the express consent of the remaining general partners and of the supervisory board, nor may a general partner be a member of the management board or a managing director or a general partner of some other, similar trading company. The consent may be granted only for specific types of transactions or for specific trading companies.
(2) Where a general partner violates this prohibition, the company may demand compensation of its damages. It may instead demand of the general partner that they allow the transactions they have entered into for their own account to be considered transactions entered into for the account of the company, and that they surrender the remuneration obtained for the transactions entered into for the account of some other party or that they assign their claim to the remuneration.
(3) The company’s claims will become statute-barred following the expiry of three months from the point in time at which the other general partners and the members of the supervisory board become aware of the measure resulting in the obligation to provide compensation for damages or ought to become aware of same unless they are grossly negligent. Such claims will become statute-barred, irrespective of this awareness or grossly negligent lack of awareness, following the expiry of five years from the date on which they have arisen.