The Banking Act, 1964

Assented to in Her Majesty's name this 22nd day of Jne. LS 1964. S. A. BENKA-COKER. Acting Governor-General. FREEDo Sierra Leone An Act to Regulate the Business of Banking in Sierra Leone and to Provide for the Licensing of Banks PART I-PRELIMINARY BE IT ENACTED by the Queen's Most Excellent Majesty, by andwith the advice and consent of the House of Representatives in thispresent Parliament assembled, and by the authority of the same,as follows: ,Date of 1964.]commence A 155 ment.

This Act may be cited as the Banking Act, 1964, and shall Short titlecome into operation on such date as may be notified in the Gazette emerby the Governor-General. mencenment.A 156 No. 19 Interpreta tion. Cap. 249. Cap. 249. business to be icensed.

" banking business activities bank '" means any person or company carrying on banking business in Sierra Leone: 3" means all or any of the following (a) receiving money from the general public on cutrent or deposit account; (b) paying or collecting cheques drawn by or received from customers; and (c) making loans or advances to customers; the Central Bank " means the Bank of Sierra Leone: " company " means any limited liability company registered under the Companies Act and includes any company incorporated outside Sierra Leone, which has complied with Part IX of that Act; "deimand liabilities mean the deposits in a bank which director " in relation to a bank, includes any person, by whatever name he may be referred to, carrying out or empowered to carry out substantially the same functions in relation to the direction of the bank as those carried out by a director of a company registered under the Companies Act; c« licence means a licence granted under section 5 authoris ing the carrying on of banking business in Sierra Leone; licensed bank '" means a bank holding a valid licence and all the offices and branches in Sierra Leone of such bank shall be deemed to be one bank; < Minister " means the Minister of Finance; time liabilities " mean all those deposits in a bank which are not payable on demand including savings deposits. PART I-LICENSING

() No person or company shallcarry on banking businessin Sierra Leone unless he is in possession of a valid licence issued in writing by the Minister on the recommendation of the Central Bank: Provided that any person or company already carrying on banking business in Sierra Leone at the commencement of this Act may continue to do so and will, on making application under section 3 within one month after the commencement of this Act, be granted a licence by the Minister: Provided further that the Minister need not grant such licence if it appears to him not to be in the public interest to do so and in any such case no other reason need be given for such refusa but the decision shall be communicated to the company or persou concerned within one month of the date on which their application is received. must be repaid on demand; (2) Any person or company who contravenes the provisionstenhsection (1) shall be guilty of an offence and shall be liable on Rntiction to afine of not less than one hundred pounds for each day during which the offence continues.

The Minister may at any time refuse to approve the granting Refusal ofaf a licence if it should appear to him not to be in the public interest a licenco.and no other reason nced be given for such refusal.

Any person or company wishing to obtain authority to Applicacarry on banking business in Sicrra Leone shall apply in writing tion forthrough the Central Bank to the Minister for the grant of a licence a licence.and shall submit (a) a copy or, if the original is not in the English language,an officially certificd English translation of the memorandum of association and articles of association or other instrument under which it is incorporated, duly verifiedby a statutory declaration made by a senior oficer of the company or other appropriate person; (b) a copy or, if the orig1nal is not in the English language,an officially certified English translation of its latestbalance sheet or, if it is currently carrying on bankingbusiness outside Sierra Leone, an audited copy of itslatest balance sheet; (c) such other information as the Minister or the CentralBank may require.

(a) in the case of a bank whose Head Ofice is situated in Sierra Leone, its capital issued and paid up is not lessth¡n two hundred thousand pounds; (b) in the case of a bank whose Head Ofice is situatedoutside Sierra Leone, the Board of Management or othercontrolling body gives an undertak1ng to the Ministerto keep with1n Sierra Leone at all times during the currency of its licence out of its own funds assets amounting to not less than two hundred thousand pounds. (a) is carrying on its business in a manner detrimental to theinterests of its depositors and other creditors; or or A 157 (b) has insufficient assets to cover its liabilities to the public;

(C) has ceased to carry on banking business in Sierra Leone: Provided that the Minister shall, prior to any such revocation, notify his intention to take such action to the bank concernedand shall give the bank concerned an opportunity to submit reasonswhy its licence should not be revoked. Minimum paid up capital. A 158 Act No. 18 of 1960. Mainten ance of reserve fund. Publication of balance sheet. Central Bank to be advised of alteration in a bank's (2) Where the licence of a bank has been revoked under subsection (1) the bank may, within thirty days of such revocation appcal in such manner as appcals are made from decisions of magistrates against such revocation to the Supreme Court which may make such order thercon as it thinks proper, including any dircctions as to the costs of the appeal and the Supreme Court shall in relation to any such appcal have all the powers conferred upon it by the Courts (Appcals) Act, 1960 in relation to an appeal from the decision of a Magistrate.

(1) Every licenscd bank shall maintain a reserve fundand, before any dividend is declarcd, shall transfer to such fund out of the net profits of cach ycar (after due provision has been made for taxation) a sum equal to not less than fifty per centum of such net profits so long as the reserve fund is equal to less than half the paid up capital. So long as the reserve fund is equal to half but less than the whole amount of the paid up capital, a sum equal to twenty-five per centum of such net profits shall be transferred to the reserve fund. (2) If the Minister after consultation with the Central Bank is satisfied that the aggregate reserve fund of a licensed bank whose head office is situated outside Sierra Leone is adequate for its business the Minister may by order in writing exempt such bank from the provisions of subsection (1).

(a) exhibit throughout the year in a conspicuous position in every office and branch of that bank in Sierra Leone a copy of its latest audited balance sheet, together with the full and correct names of all persons who are directors or partners of that bank as soon as it is available; (6) publish a copy of its latest audited balance sheet in at least one daily Sierra Leone newspaper; (c) once at least in every calendar year forward both to the Minister and to the Central Bank a copy of its latest audited balance sheet and profit and losS account. (2) Any licensed bank which fails to comply with para graphs (a), (b) or (c) of subsection (1) shall be guilty of an ofence and, on conviction be liable to a fine not exceeding five hundred pounds. PART III DUTIES OF LICENSED BANKS

(1) A licensed bank shall within three months afterthe making of any alteration in the memorandum and articles o association or other instrument under which it is incorporateo constitution. furnish to the Central Bank particulars in writing (verified by 3 statutory declaration made by a senior officer of the bank)of such alteration. (2) Any licensed bank which fails to comply with the requirements subsection (1) shall be guilty of an offence and, on conviction., be liable to a fine not exceeding fifty pounds for every day the default continues.

11. No licensed bank shall pay any dividend on its shares Restriction until all its capitalised expenditure (including preliminary expenses on divi organisation expenses, share selling commission, brokerage, amounts dends. of losses incurred and any other item of expenditure not represented by tangible assets) has been completely written off. Provided that the provisions of this paragraphshall not apply (a) grant to any person any advance or credit facility or activities give any financial guarantee or incur any other lia- by licensed bility on behalf of such person so th¡t the total value banks in of the advances, credit facilities, financial guarantees Sierra Leone. and other liabilities in respect of such person is at any time more than twenty-five per cent of the sum of the paid up capital and published reserves of the bank: (i) to transactions between banks or between the branches of abank; (i) to the purchase of, or advances made against, any of the following provided that the holder thereof is entitled to payment outside Sierra Leone for exports from Sierra Leone that is to say (aa) clean or documentary bills of exchange, (bb) telegraph transfers, (cc) documents of title to goods; A 159 (it) to advances or credit facilities granted to, or established on behalf of, any Marketing Board establishedby legislation in Sierra Leone, or to the purchase ofbills of exchange payable 1n Sierra Leone andaccepted by any such Board or to advances madeagainst such bills where such advances or creditfacilities or bills are for the purpose of financingthe movement in Sierra Leone of produce deliveredto any such Board; (iv) in respect of any bank while all the banking liabilities it may from time to time incur are the subjectof an irrevoçable guarantee given by another bankoutside Sierra Leone, if the form and substance ofthat guarantee have been approved by the Ministerupon an express recommendation by the Governorof the Central Bank; Restriction on certain (6) grant any advance or credit facility against the securityof its own shares; A 160 Cap. 249 (c) grant or permit to be outstanding unsecured advances or unsecured credit facilities of an aggregate amount in excess of five hundred pounds (1) to any one of its directors whether such advances or facilities are obtained by its directors jointly or severally; (i) to any firm, partnership or private company or other association of persons corporate or unincorporated in which it or any one or more of its directors is interested as a director, partner, managor, agent or member, or to any individual firm, partnership or private company of whom or of which any one or more of its directors is a guarantor. For the purposes of this paragraph a private company means a private company as defined in section 27 of the Companies Act; (Gi) to any body of persons in which it or any one or more of its directors jointly or severally maintains a controlling interest; () grant or permit to be outstanding to its officials and employees unsecured advances or unsecured credit facilities which in aggregate amount for any one official or employee exceed one year's emnoluments of such oficial or employee; (e) engage, whether on its own account or on a commission basis, in the wholesale or retail trade, including the import or export trade, except in so far as may exception ally be necessary in the course of the banking operations and services of that bank or in the course of the satis faction of debts due to it; ) acquire or hold any part of the share capital of any financial, commercial, agricultural, industrial or other undertaking except such share holding as a bank may acquire in the course of the satisfaction of debts due to it which share holding shall, however, be disposed of at theearliest suitable moment: Provided that this paragraph shall not apply ) in respect of any share holding approved by theCentral Bank in any corporation set up for thepurpose of promoting the development of a moneymarket or securities market in Sierra Leone or of improving the financial machinery for the financingof economic development; (ii) to all share holdings in other undertakings theaggregate value of which does not at any timeexceed twenty-five per cent of the sum of the paidup capital and publ1shed reserves of that bank; Provided that (e) purchase, acquire or lcase rcal estate except as may be necessary for the purpose of conducting its business including provision for future expansion or housing its staff or in other exceptional circumstances where the agreement of the Central Bank is obtained: (i) in respect of any real estate held or leased by a bank at the commencement of this Act for purposes other than those referred to herein, that bank shal| be allowed a period of three years in which to comply with this paragraph; and (i) a bank may secure a debt on any real or other property and in default of repayment may acquire such property for resale by the bank as soon as possible thereafter. (2) In paragraphs (c) and (d) of subsection (1), the ex pression unsecured advances or unsecured credit facilities means advances or credit facilities made without security, or in respect of any advance or credit facility made with security, any part thereof which at any time exceeds the market value of the assets constituting that security or, where the Minister is satisfied there is no established market value, the value as established on the basis of a valuation approved by the Central Bank. (3) Any licensed bank which, prior to the commencement of this Act, entered into any transactions incompatible with the provisions of paragraphs (a) to () of subsection (1), shall so soon as may be after the commencement of this Act submit a statement thereof to the Central Bank and shall, within one year from the said date, finally liquidate all such transactions.

A 161 Statements to be sent(a) not later than the last day of each month a statement in to Centralthe Form set out in the First Schedule showing the assets Bank. and liabilities of its banking offices in Sierra Leone at the close of business on the last business day of the preceding month; Provided th¡t the Central Bank may from time toLime call for any additional information which it mayrequire from any bank about its operations in SierraLeone. First Sche dul. (b) not later th¡n one month after the last day of each quarter ending on 31st March, 30th June, 30th Septemberand 31st December, a statement in the Form set out in the Second Schedule giving an analysis of advances andother assets of its banking offices in Sierra Leone as at schedule. Second 31st March, 30th June, 30th September and 3lst Decemher respectively: A 162 No. 19 Appoint ment of examiner on applica tion of Central Bank or order of Minister. Examination etc. Production of books etc. (2) The Central Bank may by Regulations under section 28 amend the Forms set out in the First and Second Schedules. (3) Any bank which fails to comply with the requirements set out in subscction (1) shall be liable to a fine not exceedino e pounds for every day during which the default continues. (4) It shall be the responsibility of the Central Bank to prepare and to publish consolidated statements aggregating the figures in the returns furnished under subsection (1). The figurar containd in thc individual returns shall be regarded as secret a between each bank and the Central Bank.

() If it appcars to the Central Bank from examinationof the returns furnished by a bank under subsection (1) of section 13 that such bank has insuficient assets to cover its liabilities to the public, the Central Bank shall so advise the Minister who shall appoint a person to nmake an examination of the books of such bank. on applica- made of the affairs of a bank on application tion of shareholders, depositors, (2) Notwithstanding anything contained in subsection (1) the Minister may cause an examination to be made at any time if he considers such an examination to be warranted.

(a) of shareholders holding not less than one third of the total number of shares in such bank for the time being issued; (b) of a person or persons together entitled to not less one third of the profits of any corporate or unincor porated association of persons engaged in banking business; (c) of depositors holding deposits of the value not less th¡n one half of the gross value of the total deposits within Sierra Leone shown in the last balance sheet of such bank. (2) Such application shall be supported by such evidence as the Minister may require for the purpose of seeing that the applicants have good reason for requiring such investigation. The Minister may also require the applicants to give such security as he may deem sat1sfactory for the payment of the costs of any examination before appointing any examiner. 16. -(1) Every bank of which an examination has been ordered under sections 14 or 15 shall produce for the inspectionof any examiner appointed to examine the affairs of the bank at such times as the examiner specifies, all books, accounts and doCuments in its possession or custody, or of which it 1s entitled to possession or custody, relating to its business in Sierra Leoneand shall supply all oral information concerning its business inSierra Leone as may reasonably be required by the examiner withinsuch time as the examiner specifies. (2) Ifany book, account, documcnt or information is not suplied in accordance with subscction () the defaulting bank shall be guilty of an ofence and shall be liablc on conviction to a fine not exceedng filty pounds in respect of every day during which the default continues. f any information, book, account or docu ment is false in any material particular, the bank shall be guilty of an offence and shall be liable on conviction to a fine not exceeding five hundred pounds. (3) Thc examiner shall be given access to any accounts. returns or other information with regard to any licensed bank which are in the posscssion of the Central Bank (4) As soon as may be atter the conclusion of the exam1na tion the cxaminer shall submit a full report thereon to the Governor of the Central Bank who shall forward it to the Minister with hiscOmments. Acopy of the report shall also be sent to the Head Ofce of the Bank concerned. Where the examination has been made under subsection (1) of section 15, the Minister shall, at the request of the persons upon whose application the examination was made, deliver to them a copy of the report. (5) The Min1ster shall have power to order that all ex penses of and incidental to an examination shall be paid by thebank. In the case of an examination made under subsection (1)of section 15 he shall also have power to order that such expensesshall be paid by the persons upon whose application an examinationhas been made.

If in the opinion of the Minister an examination pursuant to sections 14 or 15 shows that the bank concerned is carryingon its business in a manner detrimental to the interests of its de- after positors or has insufficient assets to cOver its liabilities to the public examinaor is contravening any provisions of this Act the Minister may on tion. the recommendation of the Central Bank (a) appoint a person who in his opinion has had propertraining and experience to advise the bank on the steps to be taken to rectify the matter, and shall fix his remuneration which shall be paid by the bank: or (b) cancel the licence granted under subsection (1) ofsection 3: Provided th¡t such licence shall not be cancelled (i) without giving the bank reasonable prior notice ofthe intention to do so and an opportunity of submitt1ng a written statement in reply; A 163 (ii) if the Minister is satisfied that the bank is tsiiadequate measures to rectify the matter. Minister's powers

A licensed bank which considers that it is likely to Duty of abecome unable to meet its obligations or is about to suspend pay- bank unent shall forthwith inform the Minister in writing through the eet iteCentral Bank of that fact. obligationsA 164 Appointment of auditors. Minimum liquidity require ments.

(1) Every bank shall appoint annually auditors, whoshall be professionally qualified persons, whose duties shall be tomake a report to the shareholders, partners or members of suchbank upon the annual balance sheet and accounts, and in eversuch report they shall state whether in their opinion the balancesheet is full and fair and properly drawn up, whether it exhibits a true and correct statement of the bank's affairs and, if the auditore have called for explanations or information from the offcers r agents of the bank, whether this is satisfactory. (2) The report of the auditors shall be read together with the report of the board of management of the bank at the annual meeting of shareholders or members and a copy of it shall be sent to the Central Bank. If any default is made in complying with the requirements of this subsection the defaulting bank shall be guilty of an offence and shallbe liable on conviction to a fine not exceeding five hundred pounds. (3) 1f a bank fails to appoint auditors or appoints only one auditor, the Minister shall have the power to appoint one or two auditors as the case may be. (4) The remuneration of the auditors, whether appointed by the bank or by the Minister shall be paid by the bank, and in the case of an aud1tor or auditors appointed by the Minister shall be fixed by him. (5) No person having any interest in any bank otherwise th¡n as a depositor and no oficer or agent of any bank shall be eligible for appointment as an auditor tO such bank and any person appointed as auditor to any bank who shall after such appointment acquire such interest or become an officer or agent of such bank shall forthwith cease to be such aud1tor. (6) The duties, powers and liabilities imposed and conferred by subsections (1) and (2) of section l6 in relation to examiners appointed under sections 14 and 15 are hereby imposed and con ferred also in relation to auditors. PART IV-PoWERS OF THE CENTRAL BANK

(1) Every licensed bank in Sierra Leone shall maintain at alltimes such an amount of specified liquid assets as may from time to time be prescribed by the Central Bank in writing to each licensed bank and in the Gazette. The minimum amount or amounts o the assets so prescribed shall be expressed as a percentage or per centages which such assets shall bear, either jointly or separately to the gross demand and time liabilities to the public of each bank No bank shall be required to due in Sierra Leone currency. maintain a higher percentage than any other bank. For the purposes of this section, advances granted to a bank by any otica bank or by an overseas branch or office of the same bank, shalloe Cxcluded from any computation of that bank's demand and ine liabilities. No, 19 Banking 1964 (2) Whenever the Central Bank issues a notice under subscction () varying the percentages of liquid assets to be held by cach bank, cach bank shall be allowed such uniform period of grace, being not less than fourteen working days, as may be specified in such noticc, in which to comply with the provisions thereof. (3) For the purpose of computing the amount of specified liquid assets to be held under this section by a liccnsed bank in Sierra Leone whose Head Offiee is outside Sierra Leone the offices and branches in Sierra Leone of such bank shall be deemcd to constitute a scparate bank. assets (4) For the purposes of this section specified liquid shall consist of freely transferable assets free from any charge or lien whatsocver of all or any of the following classes in such proportions as the Central Bank may from time to time pre scribe by notice in the Gazetie, namely (a) notes and coin which are legal tender in Sierra Leone; (b) balances at the Central Bank; (c) net balances at any other bank in Sierra Leoneand money at call in Sierra Leone; (d) Treasury Bills issued by the Government and maturing within ninety-three days; (e) inland bills of exchange and promissory notes which are eligible for re-discount at the Central Bank, subject to such limitations in amount as the Central Bank may from time to time prescribe; O net balances at any bank, including the offices and branches of a bank, in such monetary areas as the Central Bank may approve for the purpose; (g) money at call in monetary areas approved by the Central Bank under paragraph (), bills of exchange bearing at Jeast two good signatures drawn on and payable at any place in the approved monetary area, and Treasury Bills issued by the Government of a country in any such approved monetary area and maturing within one hundred and eighty-four days. (5) A bank shall be held to be guilty of an offence if (a) it fails to furnish within a reasonable time any information required by the Central Bank to satisfy the CentralBank that the bank is observing the requirements ofsubsection (); or (b) it allows its holding of specified liquid assets to be lessthan is from time to time prescribed by the Central Bank; or (c) during the period of any such deficiency of specifiedliquid assets the bank grants or permits increases inadvances or overdrafts without the prior approval otthe Central Bank. A 165 A 166 Selective control Over advances, Disquali fication of directors, etc. (6) Any bank which commits an offence under subsection (5) shall be liable on conviction to a fine of fifty pounds (a) for every day during which a default under paragraph (a) thereof exists; (b) for every day during which a deficiency under paragraph (6) thercof exists, and (c) for every offence under paragraph (c) thereof. 21. ) The Central Bank may from time to time prescribe by written notice to every bank the maXiMum amount of loans and advances which a licensed bank may have outstanding during such period or periods as may be specified in the notice, provided that such amounts shall not in respect of any bank be less than the amount of loans and advances outstanding in the books of that bank at the date of issue of the notice. (2) A notice issued under subsection (1) may be made applicable to allloans and advances or to any specified class or classes of such loans and advances: Provided that any directives contained in such notice shall apply equally to every bank. (3) A notice issued under subsection (1) shall come into effect on a date to be specified in the notice which shall be not less than thirty days after the date of issue. PART VGENERAL

(1) Without prejudice to anything contained in anyenactment relating to companies, any person who is a director, manager or other officer concerned in the management of a bank shall cease to hold office (a) if he becomes bankrupt or suspends payment or com pounds with his creditors; (6) if he be convicted of an offence involving dishonesty or fraud. (2) No person who has been a director of, or directlyor indirectly concerned in, the management of a bank which nashad its licence revoked in accordance w1th section 7 or been wounoup by a Court, shall, without the express authority of the Minister,act or continue to act as a director of or be directly or indirectlyconcerned in the management of any bank. 3) Any person acting in contravention of subsections (1)or (2) shall be liable on conviction to imprisonment for a term not exceeding three years or to a fine not exceeding one thoussndpounds or both such imprisonment and such fine. 23 (1) Save with the consent of the Minister, no person other Use of the than a licensed bank shall (6) make or continue to make any representation in any billhead, letter paper, notice, advertisement or in any other manner whatsoever that such person is carrying on banking business in Sierra Leone: mutual interests. Provided that nothing in this subsection shall apply to any association of licensed banks formed for the protection of their (a) use, or continue to use, the word bank '" or any of and eom its derivatives, either in English or in any other pany. language, in the description or title under which such person 1s carrying on business in Sierra Leone: (2)) Every licensed bank shall use as part of its descriptionor title the word bank" or some one or other of its derivations, either in English or in some other language. (3) Any person who acts in contravention of this section shall be liable to a fine of fifty pounds for every day during which the offence continues. (a) fails to take all reasonable steps to secure com pliance by the bank with the requirements of thisAct; or (6) fails to take all reasonable steps to ensure the correctness of any statement submitted under the provisions of this Act, A 167 word

Any person who being a director or manager or other Penaltiesshall be liable to imprisonment for a term not exceeding two yearsor a fine not exceeding five hundred pounds or both such imprisonment and such fine. (a) the Central Bank; bank " in business on directors and managers.

No prosecution in respect of any offence committed by Attorneya licensed bank under this Act shall be instituted except by or with General'sthe consent of the Attorney-General. fiat.

(b) the Post Office Savings Bank established under the Cap, 161.provisions of the Post Office Savings Bank Act; (c) any co-operative society registered under the Co- Cap. 253.operative Societies Act. official of a licensed bank A 168 Protection Regulations.

(1) Nothing in this Act shall authorise the Ministerof individual the Central Bank to enquire or cause an enquiry to be made into accounts the affairs of any individual customer of a licensed bank. from in vestigation. (2) The Central Bank or any examiner appointed by the Minister to enguire into the afiairs of any licensed bank shaí n (unless lawfully required todo so by any Court) reveal to any person any information as to the affairs of any individual customer obtained in the course of such inquiry.

The Minister on the recommendation of the Central Bankmay make such Regulations as may be required from time to time for giving effect to the provisions of this Act. 1. Capital paid up2. Reserve Fund MONTHLY STATEMENT OF ASSETS AND LIABILITIES AS AT (To be submitted in accordunce with Section 13 (I) (a) of the Bonking Act 1964) 3. Debontures 4. Deposits: (a) repayable on de mand (b) Savings Account (c) Other deposits repayable up to 3 months from 3 to 6 months from 6 to 12months beyond 12months 5. Balances beld for other banks: 11. (a) in Sierra LooDo (6) Head ofice and branches abroad (c) Other banks abroad 6. Loans and advances from: Otber banks abroad áother croditors 7. Bills payable Government (a) Other banks in Sierra Leono (6 Head ofbce and branches. abroad 8. Other liabilities (contingent liabilities included in above in respect of :- (a) bils discountei (b) Otber) LIABILITIES (as per contra) 9. Acceptances on account of cus tomers (as per contra) 10. Confrmed documentary credits Total Liabilities Net external liabilities/assets Guarantees, endursements and other obligations on accOunt of customers (as per contra) "as from the dae of this return. Other 0 00 0 0 0)

Name of Bank. £ £ WE declare that this statement is, to the best of and belief, correct. 8. 9. 1. 2. OF Cash in Hand Balances with other banks: (including items in transit) in Sierra Leone (9)(bj Hoad office and branches abroad (c) Otber banks abroad 3. Money at call : (a) inSierra Leone (6) outside Sierra Leone 4. Treasury Bills maturing with in 3 months: (a) in Sierra Leone (6) outside Sierra Leone Treasury Bills maturing be. yond 3 mnonths: (a) in Siorra Leone (b) outside Sierra Loone 5. Investments: (a) in Sierra Loone Govern ment Securities (6) in other securitues in Sierra Leone (c) in other Government securities abroad () in other securities abroad Bills discounted or purchased and payable: (a) in Sierra Leone (b) outside Sierra Leone (including bills maturing 7. Loans and advances to: (q) other banks in Sierra Leone (i) within 3 months (ii) beyond 3 months (ii) past due-unpaid and unaccopted) (b) Hoad office and bran ches abroad (c) Other banks abroad (d) Other customers (i) secured (ii) unsecured Bankpremises Other assets 10. Liability of customers for acceptances (as per contra) 11, Liabilities for Customers for confirmed documentary credits (as per contra) ASSE TS 00 0 ) ((0 0 0) A 169 0 0 0 0 0 0 0) 1. ANALYSIS OF CUSTOMERS' LIABILITIES 1TO BANK FOR LOANS AND Borrower GovOrnmont Tbe subnitted in accordance with Section 13 (/) (6) of the Banking Act 1964) 5. Agriculture 6. Mining 2 Native Administraions, Townships and Local Authorjtics3. Public Utility Bodies 9. Name of Bank 4. Banks and other Financial Institutions 10. 8. Building Construction Manufacturing GeneralCommerce Other Miscellaneous Up to 50pounds

Date... ADVANCES umber of customers liable in respect of loans andadvances: Over 50 pounds and up to 100 pounds Over 100 pounds and up to 500 poundsOver 500 pounds and up to 1,000 poundsOver 1,000 pounds and up to 5,000 poundsOver 5,000pounds and up to 10,000 poundsOver 10,000 pounds Manager. MF/S/14 (5). :::: Amount 0 0 £ A 171 Number of Customners Accountant. Passed in the House of Representatives this l6th day of April, in theyear of our Lord one thousand nine hundred and sixty-four. S. V. WRIGHT, Clerk of the House of Representatives. THIS PRINTED IMPRESSION has been carefully compared by me withthe Bill which has passed the House of Representatives and found by me tobe a true and correctly printed copy of the said Bill. S. V. WRIGHT, Clerk of the House of Representatives.