Section 50, Terrorism Act, 2012

(1) The following bodies shall have responsibility forsupervision, monitoring compliance, penalizing non-compliance and compliance enforcement with respect to the obligations in this Act:- (a) the Bank of Sierra Leone shall supervise financial institutions and currency exchange and transmission businesses; (b) the Sierra Leone Insurance Commission shall supervise the insurance industry; (c) the General Legal council shall supervise legal practitioners; (d) the Institution of Chartered Accountants of Sierra Leone shall supervise chartered accountants. (2) For any reporting entities which do not yet have a designated supervisory authority, the Unit shall act temporarily as supervisory authority until another supervisory authority is designated by law. (3) For the purposes of applying sections 52 and 53, the Unit may also act as supervisory authority in case the designated supervisory authority does not undertake the required action.