Section 22, The Banking Act, 1964

(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