Law library · Sierra Leone · The Banking Act, 2019
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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