Section 29, The Insurance Act, 2016

(1) Where an application for registration is refused orregistration is cancelled the Commissioner shall, subject to the provisions of this Act, refund to the applicant or insurer, as the case may be, the statutory deposit. (2) Where an insurer has ceased to transact in Sierra Leone, any class of insurance business in respect of which a deposit has been made under section 25 and its liabilities in Sierra Leone arising out of policies of the class of insurance business transacted have been satisfied or otherwise provided for, the Commission may, on the application of the insurer, order the refund to the insurer of so much of the deposit as does not relate to the class of insurance business the insurer continues to transact.