[Margin: Power to reconvert irredeemable stock into marketable Government securities.] [Margin: Act No. 6 of 1963.] [Margin: Act No. 10 of 1970.] (1993)

DECREE Supplement to the Sierra Leone Gazette Extraordinary Vol. CXXIV, No. 38 dated 16th July, 1993 3 N.P.R.C. Decree No. 8 1993 Sierra Leone The Bank of Sierra Leone (Reconversion of Outstanding Irredeemable Government Stocks) Decree, 1993 [Margin: Short title.] Being a Decree to empower the Bank of Sierra Leone to reconvert outstanding irredeemable Government stocks to marketable Government Securities. [1st July, 1993] [Margin: Date of commencement.] PURSUANT to paragraph 3 of the Proclamation entitled "The Administration of Sierra Leone (National Provisional Ruling Council) Proclamation, 1992", the National Provisional Ruling Council makes and issues the following Decree—

[illegible] Outstanding Irredeemable Government Stocks) Decree 199[illegible] [Margin: Power to reconvert irredeemable stock into marketable Government securities.] [Margin: Act No. 6 of 1963.] [Margin: Act No. 10 of 1970.]

Notwithstanding the limitations imposed [illegible]section 35 of the Bank of Sierra Leone Act, 1963, [illegible] amended by section 34 of the Bank of Sierra Leone (Amendment) Act, 1970, the Bank of Sierra Le[illegible] may reconvert into marketable Government Securiti[illegible] the whole or part of any irredeemable stock outstandi[illegible] at the commencement of this Decree. [Margin: Repeal of Act No. 3 of 1991.]

Advances made to Government) Act, 1991 is repealed. MADE and ISSUED this 13th day of July, 1993. CAPTAIN VALENTINE E. M. STRASSER Chairman, National Provisional Ruling Council. EXPLANATORY NOTE (This Note does not form part of the Decree but is intended to explain its purpose[illegible] The Bank of Sierra Leone (Conversion of Outstanding Advances made [illegible] Government) Act, 1991 empowered the Bank of Sierra Leone to convert in[illegible] irredeemable stock the total outstanding advances made by the Bank to t[illegible] Government notwithstanding the limitations imposed by section 35 of t[illegible] Bank of Sierra Leone Act, 1963. The object of this Decree is to enable the Bank of Sierra Leone to [illegible] convert the whole or part of that irredeemable stock into marketable Gover[illegible] ment Securities to be issued in pursuance of Government's monetary poli[illegible] objectives. PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTING DEPARTMENT, SIERRA LEONE— AUTHORITY OF THE NATIONAL PROVISIONAL RULING COUNCIL GAZETTE EXTRAORDINARY No. 38 OF 16TH JULY, 1993.