Section 41, THE BANK OF SIERRA LEONE ACT 2019

(1) Within 30 days after publishing the financialstatements under section 21 and after appropriate allocations have been made to the general reserve under paragraph (a) of subsection (2) of section 40, the Board shall allocate the distributable earnings as follows - (a) an amount equivalent to at least fifty percent of distributable earnings shall be credited to the general reserve account until the paid-up capital and general reserves equal ten percent of the total monetary liabilities of the Bank; (b) after achieving the level prescribed in paragraph (a) ,any remaining distributable earnings shall be transferred to the Government as revenue for the general budget of the Government. (2) No distribution shall be made out of retained or current income of the Bank except as provided in subsection (1). (3) Where in a financial year the Bank incurs a net loss, the loss shall first be charged to the general reserve account, and subsequently applied to the paid-up capital.