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

Section 9, The Payment Systems Act, 2009

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

(1) Subject to subsection (3), no person shall operate orparticipate in, an undesignated system or a system whose designation has been revoked. (2) Any person who contravenes subsection (1) commits an offence and is liable on conviction to a fine not exceeding one hundred million leones or to a term of imprisonment not exceeding five years or to both the fine and imprisonment. (3) Subsection (1) shall not apply to a Central Bank (4) Where the Central Bank has reasonable grounds to believe that a person has contravened subsection (1), it may under a warrant issued by a Magistrate, enter any premises and examine the books, accounts and records of such person. (5) In the exercise of its powers in subsection (4), the Central Bank may take copies of or extracts from any documents or records examined. (6) Any person who obstructs the Central Bank in the exercise of the powers conferred by subsection (4) or (5) commits an offence and is liable on conviction to a fine not exceeding twentyfive million leones or to imprisonment for a term not exceeding two years or to both the fine and imprisonment.

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