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Borrowers and Lenders Act, 2014 (No. 13 of 2014).

País/Territorio
Sierra Leona
Tipo de documento
Legislación
Fecha
2014
Fuente
FAO, FAOLEX
Fuente original
Supplement to the Sierra Leone Gazette Extraordinary Vol. CXLV, No. 72 dated 30th December, 2014.
Título completo
Being an Act to provide the legal framework for credit agreements, to improve standards of disclosure of information in credit agreements, to prohibit certain practices, and promote consistency in the enforcement of credit agreements and to provide for other related matters.
Materia
Agricultura y desarrollo rural, Tierra y suelos
Palabra clave
Crédito Procedimientos judiciales/procedimientos administrativos Negocios/industria/corporaciones
Área geográphica
Africa, Países menos desarrollados, Atlántico Norte, Africa Occidental
Resumen

This Act makes provision with respect to agreements for the purposes of lending money and related matters such as debt recovery. A “credit agreement” means an agreement in the nature of a credit facility, a credit transaction, a secured credit guarantee, any combination of these or any other agreement that relates to a transaction, regardless of its form that creates a security interest in movable property to secure all types of obligations, present or future, determined or determinable. A “lender” means a commercial bank or other financial institution licensed by the Bank of Sierra Leone and who, as part of business enters into a credit agreement by advancing loans and other credit facilities including – (a) micro credit facilities; (b) selling goods on credit; (c) providing services on credit; and (d) a financial lessor. The Act also concerns interests affecting land (mortgages) or goods (liens).

Texto completo
Inglés
Página web
www.parliament.gov.sl