Section 2, **The Sierra Leone Housing Corporation (Amendment) Act, 1986** [Margin: Short title.]

The principal Act is hereby amended by the insertion immediately after section 30 thereof of a new section 30A as follows— [Margin: "Corporation to deposit with Bank of Sierra Leone certain amounts regarding its operations under section 12(j)] 30A (1) Subject to any rules made by the Minister under subsection (2) of section 44 of this Act, any moneys for the time being held by the Corporation in respect of its operations under paragraph (j) of section 12 of this Act shall, in so far as such moneys are not immediately required for the purposes of its operations under the said paragraph (j), be deposited with the Bank of Sierra Leone. (2) Any moneys required to be deposited by subsection (1) of this section with the Bank of Sierra Leone may be so deposited wholly in cash or wholly in approved securities or partly in cash and partly in approved securities so long as the total of the cash deposited or the face value of the approved securities so deposited or both, is not less than the total amount required to be deposited under subsection (1) of this section. (3) The Corporation may, at anytime replace any cash deposited by it under this section with the Bank of Sierra Leone with approved securities and may also replace any approved securities so deposited either with cash or other approved securities or partly with cash and partly with approved securities so long as the cash and the face value of the approved securities replaced do not in each case exceed the cash and the face value of the approved securities by which they are replaced. (4) In this section "approved securities" means securities declared to be approved securities by rules made under subsection (2) of section 44 of this Act or securities approved by the Bank of Sierra Leone. [Margin: Section 43 of principal Act replaced.]