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Law library · Sierra Leone · The Payment Systems Act, 2009

Section 5, The Payment Systems Act, 2009

Status not yet checkedThe Payment Systems Act, 2009, Sierra Leone

(1) The Central Bank may grant financial and otherinstitutions, access to a Central Bank system where, in its opinion, the participation of those institutions is in the interest of the efficient operation of the system. (2) If, in the opinion of the Central Bank, such participation has ceased to be in the interest of the efficient operation of the system, the Bank may, by notice in writing, withdraw access from the institution concerned as of such date as may be specified in the notice. (3) Subject to section 11, the Central Bank shall not withdraw access without giving the institution concerned a reasonable opportunity to make representations on the matter. 10 11 Revocation of a designation. Constitutions of designated systems, etc. Access to Central Bank

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