Section 6: No bank shall be licensed to carry on business in SierraLeone unless

(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;