Law library · Sierra Leone · The Banking Act, 2019
Section 78, The Banking Act, 2019
Status not yet checkedThe Banking Act, 2019, Sierra Leone
(1) No right or obligation of a third party under anycontract to which the bank in official administration is a party may be
terminated, accelerated or modified solely because of the appointment
of the official administrator or any action taken by the official
(2) Notwithstanding subsection (1) no performance of
payment and delivery obligations under a recognised clearing,
settlement, or payment system right or obligation of a third party
under any contract to which the bank in official administration is a
party may be terminated, accelerated, or modified solely because of
the appointment of the official administrator or any action taken by
the official administrator.
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