Section 15, The Banking Act, 1964

(1) The Minister may cause an examination to be (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.