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National Investment Board Act no. 11 of 2022.

Country/Territory
Sierra Leone
Document type
Legislation
Date
2022
Source
FAO, FAOLEX
Original source
Sierra Leone Gazette Vol. CXLXIII, No. 49 of 2022.
Subject
Agricultural & rural development, Environment gen., Fisheries, Forestry, Mineral resources, General
Keyword
Business/industry/corporations Liability/compensation Cooperative/producer organization International trade Public private partnership (PPP) Research Offences/penalties Agricultural development Protection of environment Mining Oil
Geographical area
Africa, Least Developed Countries, North Atlantic, Western Africa
Abstract

This Act, consisting of 53 articles and divided into seven Parts, provides for the establishment of an investment board to promote investment opportunities, to act as a facilitating body and assist investors to obtain facilities relating to their business enterprises and generally to improve investments in Sierra Leone, except for narcotic drugs, psychotropic substances and military sectors. The Act concerns scarce resources, as non renewable resources or resources renewable over a long period of time whose utilisation is restricted and includes investments in mining and petroleum exploration and production, fishing, forestry and tourism. Matters covered by the Act include: establishment of the National Investment Board, powers and duties of its members, definition of its functions, including: promotion and implementation of public-private partnership agreements, determination of strategic investment policy of the country, encouragement of the development of agricultural production; duties of investment and export promotion directorate, including: facilitating export oriented operations of small scale producers, carrying out research on investments export and other related activities; investment in scarce resources and incentives for special investment, conditions imposed on investors including the protection of the environment; obligations of investors; protection of investment, including compensation and transfer of funds; financial provisions; offences; amendment and repeal of previous Acts.

Full text
English
Website
www.sierra-leone.org

References - Legislation

Amends

Public Private Partnership Act, 2014 (No. 11 of 2014).

Legislation | Sierra Leone | 2014

Keyword: Public private partnership (PPP), Business/industry/corporations, Dispute settlement, Institution, Non-governmental entity

Source: FAO, FAOLEX

Repeals

Sierra Leone Investment and Export Promotion Agency Act, 2007 (No. 3 of 2007).

Legislation | Sierra Leone | 2007

Keyword: Agricultural development, Institution

Source: FAO, FAOLEX