Section 7, The Banking Act, 1964

(1) The Minister may by Order published in the Gazette Revocationrevoke any licence if the holder of licence, (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 Central Bank to be advised of alteration in a bank's (2) Where the licence of a bank has been revoked under subsection (1) the bank may, within thirty days of such revocation appcal in such manner as appcals are made from decisions of magistrates against such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.