Law library · Sierra Leone · The Banking Act, 2019
Section 98, The Banking Act, 2019
Status not yet checkedThe Banking Act, 2019, Sierra Leone
(1) A parent company, subsidiary, affiliate or associate ofa bank that provides management company services may not alter,
refuse or discontinue such services to a bank in receivership, acquirer
bank, bridg bank because of its receivership or because the bank has
failed to pay services prior to receivership.
(2) A lessor of a bank premises, provider of utility services
including, without limitation, a company that supplies electricity,
natural gas, water or telecommunication services, internet services,
may not alter, refuse or discontinue such services to a bank in
receivership, acquirer, bridge bank or asset management company of
a bank or because the debtor has failed to pay for services prior to its
(3) Upon request of a lessor of a bank premises, service
provider or a utility provider, a bank in receivership shall place a
security deposit in a bank as a condition to the lessor's, service
provider or utility company's duty to continue to provide services
during the receivership, and any such deposit shall not be required
in an amount greater than the cost of services provided to the bank in
receivership, acquirer, bridge bank or asset management company
during the month immediately prior to the effective date of the
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