Section 67, THE BANK OF SIERRA LEONE ACT 2019

(1) The Bank shall have a first ranking unconditionalpreferential right to satisfy each of its claims arising from the execution of its functions from any cash balances, securities and other assets that it holds for the account of a debtor concerned, whether as collateral to secure its claims or otherwise, at the time that the claim becomes due and payable. (2) The Bank may exercise its preferential right only by appropriating the cash balances by way of compensation and by selling securities and other assets without undue delay against a reasonable price and paying itself from the proceeds of the sale after deducting the costs associated with the sale. (3) No court action shall be required, and no competing claim shall be permitted, to delay the exercise by the Bank of its preferential right in accordance with this section. Bank to issue orders. etc. Immunity fr om taxation. Preferential rights. No. 5 Bank of Sierra Leone Act 2019No. 5 Bank of Sierra Leone Act 201940 41