Law library · Sierra Leone · The Banking Act, 2019
Section 41, The Banking Act, 2019
Status not yet checkedThe Banking Act, 2019, Sierra Leone
(1) A bank or financial holding company whose capitaladequacy ratio is less than that prescribed by the Central Bank shall
not take any placement or receive any deposit from any bank or
financial holding company except with the express written approval
of the Central Bank.
(2) Placements between banks which are members of a
financial group shall be subject to restrictions on transactions with
an affiliate under section 40.
(3) A bank or financial holding company which
contravenes this section is liable to an administrative penalty.
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