where does the oil dripout?
if its at the pump, most probably the union nuts needs tightening or replace the union washers
if its at the rack itself, it may not be a good, possible rack failure as the m40 units tend to be a bit more fragile compared to the earlier units
there used to be a repair kit for the earlier racks, not sure about the m40 ones as its a whole sealed unit
btw i have a used steering rack in good condition if you are interested