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Section 73, The Banking Act, 2019

Status not yet checkedThe Banking Act, 2019, Sierra Leone

(1) An action under this section shall not by itself giverise to any right by a party to, or a person who holds an interest in any agreement. (2) In taking an action under this Part in relation to an institution in resolution, the Central Bank shall treat claims of creditors or shareholders of the institution that would have the same ranking in liquidation under section 102, unless it determines that it is necessary to treat them differently to effect the orderly resolution of the designated institution thereby containing the potential negative impact of such restructuring on financial stability or to maximize the value of claims for the benefit of all the institution's depositors and creditors as a whole. PART XI - OFFICIAL ADMINISTRATION

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