Section 2, The Insurance Act, 2000

(1) There is hereby established a body corporate to be known as the Sierra Leone Insurance Commission (in this Act referred to as "the Commission"). No. 5 Insurance Act 2000 7 (2) The Commission shall have perpetual succession and a common seal and may sue and be sued in its own name. (3) The Commission shall have power for the discharge of its functions under this Act to acquire and hold any movable or immovable property, to dispose of such property and to enter into any contract or other transaction. [Margin: Object and functions of Commission.]