Section 18, THE BANK OF SIERRA LEONE ACT 2019

(1) A director, agent, member of committee or staff of the Bank shall not, except when necessary for the fulfillment of any function or duty under this Act - (a) permit access to; (b) disclose or publicise; (c) use or allow to be used for personal gain, non-public information obtained in the performance of his duties. (2) Notwithstanding subsection (1), a director, agent, member of commitee or staff of the Bank may disclose information outside the Bank, in accordance with procedures established by the Bank, but only if it is- (a) with the express consent of the person about whom the information relates; (b) for the fulfillment of a duty to disclose as required by law, including to assist law enforcement or on the order of a court; (c) given to the external auditor of the Bank; (d) given to regulatory and supervisory authorities or to public international financial institutions, in the performance of their official duties; or (e) in the interest of the Bank itself in legal proceedings that require disclosure. (3) The Board shall determine the classification and accessibility of documents held by or drawn up by the Bank. (4) A person who contravenes subsection (1) commits an offence and is liable on conviction to a fine not less than one hundred million Leones, or to a term of imprisonment not less than three years. (5) Members of the Board and staff shall avoid any situation which is likely to give rise to a conflict of interest. (6) A conflict of interest arises where members of the Board or staff have private or personal interests, which may influence or appear to influence the impartial and objective performance of their duties. (7) For the purpose of sub section (6) private or personal interests of members of the Board or staff mean any potential advantage for themselves, their familes, their other relatives up to the second degree or their friends or acquaintances. (8) No member of the Board and staff shall receive or accept from any source any benefit, reward, remuneration or gifts in excess of a customary on negligible amount, whether financial or otherwise, which are connected in any way whatsoever with their activities within the bank. (9) A breach of this section by a member of the Board and any staff shall notwithstanding the value given or received, constitute a serious breach and may at the discretion of the Governor constitute grounds for disciplinary measures including dismisal without compensation. (10) Members of the Board and staff shall not use confidential information to which the have access, for the purpose of carrying out private financial transactions, whether directly or indirectly through third parties or whether conducted at their own risk and for their account, or at the risk and for tha account of a third party. (11) Each member of the Board shall before the last day of January of each year, disclosed to the Minister in full, significant financial interest which that member or any person with whom the member has family, business, of financial connections may directly or indirectly possess and the disclosures shall comply with the internal rules adopted by the Board. (12) Whenever a matter related to that interest is before the Board, the member concerned shall disclose his interest without undue delay and at the latest at the begining of the discussion and shall not participate in the discussion and decision on the matter, but the members present shall be counted for the purpose of constituting a quorum . 12 13 Salaries fees. etc. confidentiality, conflict of interest and fiduciary duty. (`13) Members of the Board and staff have a fiduciary duty to the bank and to the Bank’s customers to place the Bank and its customers’ interests before their own pecuniary interest. (14) The Board may make internal rules to implement the requirements of this section. PART IV-FINANCIAL STATEMENTS, REPORTS AND AUDIT