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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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