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

Pays/Territoire
Sierra Leone
Type du document
Législation
Date
2014
Source
FAO, FAOLEX
Source d'origine
Supplement to the Sierra Leone Gazette Extraordinary Vol. CXLV, No. 72 dated 30th December, 2014.
Titre complet
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.
Sujet
Agriculture et développement rural, Terre et sols
Mot clé
Crédit Procédures judiciaires/procédures administratives Commerce/industrie/sociétés
Aire géographique
Afrique, Pays les moins avances, Atlantique Nord, Afrique de l'Ouest
Résumé

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).

Texte intégral
Anglais
Site web
www.parliament.gov.sl