Law library · Sierra Leone · The Banking Act, 2019
Section 88, The Banking Act, 2019
Status not yet checkedThe Banking Act, 2019, Sierra Leone
(1) Where the licence of a bank is revoked pursuant tosection 9 the Central Bank shall appoint a receiver who shall take
possession and control of the assets and liabilities of that bank.
(2) Where a receiver is to be appointed to take
possession and control of the assets and liabilities of a bank under
subsection (1), the Central Bank shall notify the Deposit Protection
Fund in advance of its decision.
“No creditor
worse off”
rule.
Costs of
resolution.
Review of
resolution
decisions of
Appiontment
of receiver.
98 99
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