Section 47, The Bank of Sierra Leone Act, 2000

(1) The Bank may, in conducting its monetary policy, prescribe temporary conditions and restrictions with respect to the total amount of credit including guarantees extended by licensed institutions only if and to the extent that its monetary policy objectives cannot be achieved with other monetary instruments. (2) The restrictions imposed under subsection (l) shall not exceed a period of twelve months and shall be eliminated as soon as the monetary conditions that prompted the imposition of the restrictions are brought under control. [Margin: Clearing houses.]