<p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              IN exercise of the powers 
                                              conferred on the President by 
                                              sections 1, 2, 4 and 6 of the 
                                              Statutory Corporations Act, 1964 
                                              (Act 232) this Instrument is made 
                                              this 16th day of November, 1971.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212;ESTABLISHMENT OF GHANA FOOD 
                                              (DISTRIBUTION) CORPORATION</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 1&#8212;Establishment of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              There is hereby established a body 
                                              corporate to be known as the Ghana 
                                              Food (Distribution) Corporation in 
                                              this Instrument referred to as the 
                                              &quot;Corporation&quot;.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 2&#8212;Compulsory Acquisition 
                                              of Property for Corporation where 
                                              there is a Hindrance.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Where there is any hindrance to 
                                              the acquisition by the Corporation 
                                              of any property in pursuance of 
                                              its powers under section 3 of the 
                                              Statutory Corporations Act, 1964 
                                              (Act 232), the property may be 
                                              acquired for the Corporation under 
                                              the State Property and Contracts 
                                              Act, 1960 (C.A. 6) or as the case 
                                              may be, under the State Lands Act, 
                                              1962 (Act 125) and each such Act 
                                              shall, as the case may be, apply 
                                              in relation to any such 
                                              acquisition with such 
                                              modifications as may be necessary 
                                              to provide for the vesting of the 
                                              property acquired thereunder in 
                                              the Corporation and for the cost 
                                              of such acquisition to be defrayed 
                                              by the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART II&#8212;OBJECTS OF THE 
                                              CORPORATION, ETC.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 3&#8212;Objects of the 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The objects of the Corporation 
                                              are&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (a) to purchase, sell, preserve 
                                              and distribute foodstuffs&nbsp; 
                                              including meat, fish, and fish and 
                                              meat preparations;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) to export foodstuffs to 
                                              overseas markets;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (c) to buy and sell agricultural 
                                              machinery and implements to 
                                              farmers;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (d) to organise grocery shops;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (e) to carry out such other 
                                              activities as are incidental to 
                                              the attainment of the foregoing 
                                              objects or as the Prime Minister 
                                              may assign to it.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation may, for the 
                                              attainment of its objects and 
                                              without prejudice to the general 
                                              effect of sub-paragraph (1) of 
                                              this paragraph&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) control and fix with the prior 
                                              approval in writing of the 
                                              Minister, the prices to be paid 
                                              from time to time to producers for 
                                              their foodstuffs and shall arrange 
                                              in such manner as it may think fit 
                                              to notify such prices to the 
                                              producers;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (b) appoint licensed buying agents 
                                              throughout Ghana to purchase 
                                              foodstuffs on behalf of the 
                                              Corporation and issue to such 
                                              agents upon such conditions as it 
                                              may think fit, licences for&nbsp; 
                                              effecting any such purchases;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) acquire, hold or dispose of 
                                              any interest in the business of 
                                              any person carrying on functions 
                                              (whether in Ghana or outside 
                                              Ghana) similar or related to the 
                                              objects of the Corporation; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (d) to carry on such other 
                                              activities as may appear to the 
                                              Corporation to be conducive or 
                                              incidental to the attainment of 
                                              the objects and functions of the 
                                              Corporation under this Instrument.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 4&#8212;No Person shall Export 
                                              Foodstuffs without the Authority 
                                              of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) No person shall export any 
                                              foodstuff except&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (a) foodstuff which is the 
                                              property of the Corporation; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) foodstuff the export of which 
                                              has been authorised in writing by 
                                              the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Any person who contravenes the 
                                              provisions of sub-paragraph (1) of 
                                              this paragraph shall be guilty of 
                                              an offence and shall, on summary 
                                              conviction, be liable to a fine 
                                              not exceeding N¢1,000.00 or to 
                                              imprisonment not exceeding twelve 
                                              months or to both.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 5&#8212;Corporation may Delegate 
                                              its Functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Without prejudice to the 
                                              generality of paragraph 12 of this 
                                              Instrument the Corporation may 
                                              with the prior approval of the 
                                              Minister and subject to such 
                                              conditions as it may think fit, by 
                                              writing under its common seal 
                                              delegate any of its functions 
                                              under this Part to any person and 
                                              may at any time in like manner 
                                              revoke such delegation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) While any delegation remains 
                                              in force the provisions of this 
                                              Instrument shall be construed with 
                                              such modifications as may be 
                                              necessary to give effect to such 
                                              delegation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 6&#8212;Corporation to Conduct 
                                              its Affairs on Sound Commercial 
                                              Lines.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              It shall be the duty of the 
                                              Corporation to conduct its affairs 
                                              on sound commercial lines.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART III&#8212;COMPOSITION OF THE BOARD</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 7&#8212;The Board.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The governing body of the 
                                              Corporation shall be a Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Board shall consist of a 
                                              Chairman and six other members 
                                              appointed by the President acting 
                                              in accordance with the advice of 
                                              the Prime Minister and shall 
                                              include the Managing Director 
                                              referred to in paragraph 11 of 
                                              this Instrument.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 8&#8212;Qualifications and 
                                              Tenure of Office of Members of the 
                                              Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) No person shall be qualified 
                                              to be a member of the Board&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) if he has been sentenced to 
                                              death or to a term of imprisonment 
                                              exceeding twelve months without 
                                              the option of a fine or has been 
                                              convicted of an offence involving 
                                              dishonesty or moral turpitude and 
                                              has not in each case been granted 
                                              a free pardon, or</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) if having been declared an 
                                              insolvent or a bankrupt under any 
                                              law for the time being in force in 
                                              Ghana or any other country, he is 
                                              an undischarged insolvent or 
                                              bankrupt, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) if he is adjudged to be a 
                                              person of unsound mind.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) The members of the Board other 
                                              than the Managing Director shall 
                                              hold office for three years:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that of the first members 
                                              to be appointed, half (or if their 
                                              number is not divisible by two, 
                                              half of the next higher number) 
                                              shall hold office for one year and 
                                              such period shall be stated in 
                                              their instruments of appointment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Any member of the Board other 
                                              than the Managing Director may 
                                              resign his office by notice in 
                                              writing addressed to the Minister 
                                              and without prejudice to the 
                                              general effect of sub-paragraph 
                                              (2) of this paragraph, any such 
                                              person may be removed from office 
                                              by the President acting in 
                                              accordance with the advice of the 
                                              Prime Minister.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Where the office of a member 
                                              of the Board other than the 
                                              Managing Director becomes vacant 
                                              under sub-paragraph (1) or (3) of 
                                              this paragraph before the 
                                              expiration of his term of office 
                                              under sub-paragraph (2) of this 
                                              paragraph or by his death, the 
                                              Minister shall notify the Prime 
                                              Minister of the occurrence of such 
                                              event and the President shall, 
                                              acting in accordance with the 
                                              advice of the Prime Minister and 
                                              subject to the provisions of this 
                                              Instrument appoint another person 
                                              in his place and to hold office 
                                              for the unexpired portion of his 
                                              term of office.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Subject to the provisions of 
                                              this Instrument where any member 
                                              of the Board is incapacitated by 
                                              absence from Ghana, or illness or 
                                              any other sufficient cause from 
                                              performing the duties of his 
                                              office, the President acting on 
                                              the advice of the Prime Minister 
                                              may appoint another person to hold 
                                              office in his place until the 
                                              incapacity of that person has 
                                              terminated or until the expiry of 
                                              the term of office of the member, 
                                              whichever first occurs.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (6) Every member of the Board 
                                              shall on ceasing to be a member, 
                                              be eligible for re-appointment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 9&#8212;Remuneration of Board 
                                              Members.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Any member appointed to the Board 
                                              under paragraph 7 of this 
                                              Instrument as well as any person 
                                              co-opted to the Board under 
                                              paragraph 10 (6) of this 
                                              Instrument may be paid such 
                                              remuneration (if any) as the Board 
                                              may, with the approval of the 
                                              Minister determine in relation to 
                                              him.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 10&#8212;Meetings of the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall ordinarily 
                                              meet for the despatch of business 
                                              at such times and at such places 
                                              as the Board may determine but 
                                              shall meet at least once in every 
                                              month.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) A special meeting of the Board 
                                              shall be called upon a written 
                                              request signed by the Chairman or 
                                              by a majority of the members of 
                                              the Board addressed to the 
                                              Secretary of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) At every meeting of the Board 
                                              at which he is present, the 
                                              Chairman shall preside and in his 
                                              absence a member of the Board 
                                              appointed by the members present 
                                              from among themselves, shall 
                                              preside.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Questions proposed at a 
                                              meeting of the Board shall be 
                                              determined by a simple majority of 
                                              members present and voting and in 
                                              the event of any equality of votes 
                                              the person presiding shall have a 
                                              second or casting vote.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The quorum at any meeting of 
                                              the Board shall be three or half 
                                              the number of members of the Board 
                                              whichever is the greater so 
                                              however that if the number of 
                                              members of the Board is not 
                                              divisible by two the reference to 
                                              half the number of the members of 
                                              the Board shall be deemed to be a 
                                              reference to half the next higher 
                                              number.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) The Board may, at any time 
                                              co-opt any person or persons to 
                                              act as an adviser or advisers at 
                                              any of its meetings so, however, 
                                              that no person so co-opted shall 
                                              be entitled to vote at any such 
                                              meetings on any matter for 
                                              decision by the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (7) The validity of any 
                                              proceedings of the Board shall not 
                                              be affected by any vacancy among 
                                              its members or by any defect in 
                                              the appointment of any of them.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (8) Any member of the Board who 
                                              has any interest in any company or 
                                              undertaking with which the 
                                              Corporation proposes to enter into 
                                              any contract or who has any 
                                              interest in any contract which the 
                                              Corporation proposes to enter into 
                                              shall disclose in writing to the 
                                              Board the nature of his interest 
                                              and shall, unless the Board 
                                              otherwise directs, be disqualified 
                                              from participating in any 
                                              deliberations of the Board on the 
                                              contract and shall in any case be 
                                              disqualified from voting in any 
                                              decision of the Board on such 
                                              contract and any member who 
                                              infringes the provisions of this 
                                              sub-paragraph shall be liable to 
                                              be removed from the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART IV&#8212;MANAGEMENT AND STAFF OF 
                                              BOARD</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 11&#8212;Board to be in Control 
                                              of General Policy of the 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall, subject to 
                                              the provisions of this Instrument, 
                                              have general control of the 
                                              management of the Corporation on 
                                              matters of policy.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) The Corporation shall have a 
                                              Managing Director. </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Subject to the provisions of 
                                              Part III of this Instrument the 
                                              Managing Director shall be 
                                              appointed by the President acting 
                                              in accordance with the advice of 
                                              the Prime Minister, and subject to 
                                              the provisions of the said Part 
                                              shall hold office upon such terms 
                                              and conditions as may be specified 
                                              in his instrument of appointment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Where the office of the 
                                              Managing Director becomes vacant 
                                              the Board shall notify the 
                                              Minister thereof and the Minister 
                                              shall in turn notify the Prime 
                                              Minister of the occurrence of the 
                                              vacancy.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Where the Managing Director is 
                                              incapacitated from the performance 
                                              of his functions under this 
                                              Instrument the Board may subject 
                                              to sub-paragraph (5) of paragraph 
                                              8 of this Instrument authorise any 
                                              employee of the Corporation to 
                                              perform those functions for the 
                                              duration of the incapacity.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) Subject to the provisions of 
                                              this Instrument, the Managing 
                                              Director shall be the Chief 
                                              Executive of the Corporation and 
                                              shall, subject to the general 
                                              control of the Board on matters of 
                                              policy, and subject in particular 
                                              to such rules as the Board may 
                                              make in that behalf under 
                                              paragraph 27 of this Instrument, 
                                              be charged with the direction of 
                                              the day-to-day business of the 
                                              Corporation and of its 
                                              administration and the control of 
                                              all the employees of the 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (7) Subject to sub-paragraph (6) 
                                              of this paragraph the Managing 
                                              Director may delegate to any 
                                              employee of the Corporation any of 
                                              his functions under this 
                                              Instrument and may impose such 
                                              conditions with respect to the 
                                              exercise of any delegated 
                                              functions as he may think fit:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that nothing in this 
                                              sub-paragraph shall be construed 
                                              so as to absolve the Managing 
                                              Director from ultimate 
                                              responsibility for any act done by 
                                              any person in pursuance of any 
                                              such delegated functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (8) The Chairman as Chairman shall 
                                              have no other functions in 
                                              relation to the Corporation except 
                                              as otherwise expressly conferred 
                                              on him by this Instrument or by 
                                              any other enactment.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 12&#8212;Execution of Contracts, 
                                              Etc.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The use of the seal of the 
                                              Corporation shall be authenticated 
                                              by two signatures, namely&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (a) the signature of the Managing 
                                              Director or some other member of 
                                              the Board authorised by the Board 
                                              to authenticate the application of 
                                              the seal, and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) the signature of the Secretary 
                                              or some other officer of the 
                                              Corporation authorised by the 
                                              Board to act in the Secretary's 
                                              place for that purpose.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation may by 
                                              instrument in writing under its 
                                              common seal empower any person 
                                              either generally or in respect of 
                                              any specified matters as its 
                                              attorney, to execute deeds on its 
                                              behalf in any place not situated 
                                              in Ghana; and every deed signed by 
                                              any attorney on behalf of the 
                                              Corporation and under his seal, 
                                              shall be binding on the 
                                              Corporation and have the same 
                                              effect as if it were under the 
                                              common seal of the Corporation.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Any instrument or contract 
                                              which, if executed or entered into 
                                              by a person other than a body 
                                              corporate, would not require to be 
                                              under seal, may be executed or 
                                              entered into on behalf of the 
                                              Corporation by the Managing 
                                              Director or any member of the 
                                              Board if such person has 
                                              previously been authorised by a 
                                              resolution of the Board to execute 
                                              or enter into that particular 
                                              instrument or contract:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that if the Corporation 
                                              thinks fit it may by writing under 
                                              its common seal appoint any person 
                                              outside Ghana as agent to execute 
                                              or enter into the instrument or 
                                              contract and the instrument or 
                                              contract if executed or entered 
                                              into on behalf of the Corporation 
                                              shall have effect as if it had 
                                              been duly executed or entered into 
                                              as prescribed for the purpose of 
                                              this sub-paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (4) Every document purporting to 
                                              be an instrument executed or 
                                              issued by or on behalf of the 
                                              Corporation and to be&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) sealed with the common seal of 
                                              the Corporation authenticated in 
                                              the manner provided by 
                                              subparagraph (1) of this 
                                              paragraph; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) signed by and under the seal 
                                              of a person appointed as attorney 
                                              under sub-paragraph (2) of this 
                                              paragraph; or</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) signed by the Managing 
                                              Director or by a member of the 
                                              Board or other person authorised 
                                              in accordance with sub-paragraph 
                                              (3) of this paragraph to act for 
                                              that purpose,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              shall be deemed to be so executed 
                                              or issued until the contrary is 
                                              shown.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (5) The provisions of this 
                                              paragraph shall have effect 
                                              subject to the provisions of 
                                              paragraph 11 of this Instrument 
                                              and of section 12 of the Contracts 
                                              Act, 1960 (Act 25).</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 13&#8212;Staff of the 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation may from time 
                                              to time engage such employees as 
                                              may be necessary for the proper 
                                              and efficient conduct of the 
                                              business and functions of the 
                                              Corporation.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation may also 
                                              engage the services of such 
                                              consultants and advisers as the 
                                              Board may upon the recommendation 
                                              of the Managing Director 
                                              determine.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Subject to any delegation 
                                              effected under clause (2) of 
                                              article 140 of the Constitution 
                                              and subject also to the other 
                                              provisions of the Constitution the 
                                              employees of the Corporation shall 
                                              be appointed by the President 
                                              acting in accordance with the 
                                              advice of the Public Services 
                                              Commission.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (4) Subject to the provisions of 
                                              the Constitution the employees, 
                                              consultants and advisers of the 
                                              Corporation shall be engaged on 
                                              such terms and conditions as the 
                                              Board may on the recommendations 
                                              of the Managing Director 
                                              determine.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Public officers may be 
                                              transferred or seconded to the 
                                              Corporation or may otherwise give 
                                              assistance thereto.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 14&#8212;Secretary of 
                                              Corporation.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have an 
                                              officer to be designated as the 
                                              Secretary of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Secretary shall act as 
                                              Secretary to the Board and shall, 
                                              subject to the directions of the 
                                              Board, arrange the business for 
                                              and cause to be recorded and kept 
                                              minutes of all meetings of the 
                                              Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (3) The Secretary shall also 
                                              perform such functions as the 
                                              Board may by writing direct or as 
                                              the Managing Director may by 
                                              writing delegate to him and shall 
                                              be assisted in his functions by 
                                              such of the staff of the 
                                              Corporation as the Board may on 
                                              the recommendations of the 
                                              Managing Director direct.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 15&#8212;Internal Auditor.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have an 
                                              Internal Auditor.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Subject to the provisions of 
                                              this Instrument, the Internal 
                                              Auditor shall be responsible to 
                                              the Managing Director for the 
                                              performance of his functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) As part of his functions under 
                                              this Instrument the Internal 
                                              Auditor shall at intervals of 
                                              three months, prepare a report on 
                                              the internal audit work carried 
                                              out by him during the period of 
                                              three months immediately preceding 
                                              the preparation of the report, and 
                                              submit the report to the Managing 
                                              Director.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (4) Without prejudice to the 
                                              general effect of sub-paragraph 
                                              (3) of this paragraph, the 
                                              Internal Auditor shall make in 
                                              each report such observations as 
                                              appear to him necessary as to the 
                                              conduct of the financial affairs 
                                              of the Corporation during the 
                                              period to which the report 
                                              relates.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The Internal Auditor shall 
                                              send a copy of each report 
                                              prepared by him under this 
                                              paragraph to the Minister and also 
                                              to each of the following &#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Minister responsible for 
                                              Finance,</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Auditor-General, and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Chairman of the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 16&#8212;Board Members not to 
                                              Sponsor Appointments.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              No member of the Board shall 
                                              personally sponsor or recommend 
                                              any application for the employment 
                                              of any person under this 
                                              Instrument and any member who 
                                              infringes the provisions of this 
                                              paragraph shall be liable to be 
                                              removed from the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART V&#8212;FINANCIAL PROVISIONS</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 17&#8212;Capital and Funds of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Government may provide to the 
                                              Corporation as working capital and 
                                              also as moneys required for 
                                              carrying out the functions of the 
                                              Corporation such sums as the 
                                              Minister may after consultation 
                                              with the Cabinet agree, being sums 
                                              requested by the Board from the 
                                              Government.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              Section 18&#8212;Staff Welfare Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have a 
                                              staff welfare fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) At the end of each financial 
                                              year, the Corporation shall 
                                              transfer to the staff welfare fund 
                                              such sum, not exceeding five per 
                                              centum of the net profits of the 
                                              Corporation as the Board may 
                                              determine.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The Corporation may, with the 
                                              approval of the Minister, use the 
                                              staff welfare fund for the 
                                              provision of staff welfare 
                                              facilities such as canteens, low 
                                              interest bearing staff welfare 
                                              loads for other purposes aimed at 
                                              enhancing the welfare of the staff 
                                              of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The operation of the staff 
                                              welfare fund shall be subject to 
                                              such specific rules and 
                                              regulations as may be made by the 
                                              Board.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 19&#8212;Depreciation Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have a 
                                              depreciation fund and for this 
                                              purpose the Corporation shall open 
                                              a Depreciation Reserve Account 
                                              with the Bank of Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) At the end of each financial 
                                              year, the Corporation shall 
                                              transfer to the credit of the 
                                              Depreciation Reserve Account all 
                                              amounts charged to profit and loss 
                                              account in respect of depreciation 
                                              for buildings, plant and 
                                              equipment, fixtures and other 
                                              fixed assets.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Amounts so transferred to the 
                                              Depreciation Reserve Account shall 
                                              be utilised only to replace fixed 
                                              assets and equipment which are 
                                              worn out or have become obsolete.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Expenditure in respect of 
                                              current repairs and in respect of 
                                              purchases of spare parts shall not 
                                              be met out of the Depreciation 
                                              Reserve Account but shall be 
                                              charged to the income and 
                                              expenditure account of the 
                                              Corporation for the financial year 
                                              during which the expenditure is 
                                              incurred.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 20&#8212;Corporation to Pay Sums 
                                              into Consolidated Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Subject to paragraph 6 of this 
                                              Instrument at the end of each 
                                              financial year, after the 
                                              Corporation has made provision for 
                                              bad and doubtful debts, 
                                              depreciation of assets, 
                                              contributions to staff and 
                                              superannuation funds and for other 
                                              contingencies, if any, and after 
                                              appropriation has been made to the 
                                              staff welfare fund under paragraph 
                                              18 of this Instrument, such part 
                                              of the profits of the Corporation 
                                              remaining as the Minister after 
                                              consultation with the Board and 
                                              with the Minister responsible for 
                                              Finance may by writing direct 
                                              shall be paid into the 
                                              Consolidated Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              Section 21&#8212;Borrowing Powers.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation may obtain 
                                              loans and other credit facilities, 
                                              on the guarantee of the Government 
                                              from the National Investment Bank 
                                              or from such other Bank as the 
                                              Minister and the Minister 
                                              responsible for Finance may 
                                              approve.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) Apart from the powers of the 
                                              Corporation under subparagraph (1) 
                                              of this paragraph, the Corporation 
                                              may, with prior approval of the 
                                              Minister and the Minister 
                                              responsible for Finance borrow 
                                              money from any other source.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) For the purpose of any 
                                              technical arrangement in 
                                              connection with the raising of any 
                                              loan under sub-paragraph (2) of 
                                              this paragraph, the Corporation 
                                              shall, if the National Investment 
                                              Bank agrees, use the services of 
                                              that Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The Corporation may borrow 
                                              temporarily by way of overdraft or 
                                              otherwise, such sums as it may 
                                              require for meeting its current 
                                              obligations or discharging its 
                                              functions.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The Minister responsible for 
                                              Finance may on behalf of the 
                                              Government, guarantee the 
                                              performance of any obligation or 
                                              undertaking by the Corporation 
                                              under this paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) The Minister responsible for 
                                              Finance may from time to time 
                                              prescribe the maximum sums which 
                                              the Corporation may borrow under 
                                              sub-paragraph (1) or (2) of this 
                                              paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 22&#8212;Corporation to Keep 
                                              Proper Books of Account.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Corporation shall keep proper 
                                              books of account and proper 
                                              records in relation thereto and 
                                              the account books and records of 
                                              the Corporation shall be in such 
                                              forms as the Auditor-General may 
                                              approve.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 23&#8212;Financial Year of 
                                              Corporation.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation's financial 
                                              year shall end on the 30th day of 
                                              June in each year.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) For the purposes of this 
                                              paragraph the period extending 
                                              from the commencement of this 
                                              Instrument to the 30th day of 
                                              June, 1972 shall be deemed to be a 
                                              financial year.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 24&#8212;Audit.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The books and accounts of the 
                                              Corporation shall each year be 
                                              audited in accordance with article 
                                              135 of the Constitution by the 
                                              Auditor-General.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation shall pay in 
                                              respect of such audit such fee (if 
                                              any) as the Auditor-General and 
                                              the Board may agree or in the case 
                                              of failure to agree, such fee as 
                                              the Minister may prescribe.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) It shall be the duty of the 
                                              Board as soon as possible upon 
                                              receiving the report of the 
                                              Auditor-General under this 
                                              paragraph, to forward a copy of 
                                              such report to the Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The Minister shall as soon as 
                                              practicable upon receipt thereof, 
                                              cause to be laid before the 
                                              National Assembly a copy of the 
                                              Auditor-General's Report forwarded 
                                              to him under this paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 25&#8212;Annual Report, Etc.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall, as soon 
                                              as possible after the expiration 
                                              of each financial year but within 
                                              six months after the termination 
                                              of that financial year submit to 
                                              the Minister an annual report 
                                              dealing generally with the 
                                              activities and operations of the 
                                              Corporation with that year which 
                                              shall, without prejudice to the 
                                              generality of the foregoing 
                                              include&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) a copy of the audited accounts 
                                              of the Corporation together with 
                                              the Auditor-General's report 
                                              thereon;</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) each report submitted in 
                                              relation to that financial year by 
                                              the Internal Auditor under 
                                              paragraph 15 of this Instrument;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) a statement of all directions 
                                              given by the Minister to the 
                                              Corporation under paragraph 26 of 
                                              this Instrument within that&nbsp; year;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (d) such other information as the 
                                              Minister may be writing request.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) A copy of the annual report of 
                                              the Corporation shall also be sent 
                                              by the Corporation to the 
                                              following &#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Minister responsible for 
                                              Finance</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Head of the Central Bureau of 
                                              Statistics.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The Minister shall, as soon as 
                                              possible after receiving the 
                                              annual report of the Corporation, 
                                              cause the report to be laid before 
                                              the National Assembly.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (4) The Corporation shall also 
                                              submit to the Minister such other 
                                              reports on its operations as the 
                                              Minister may by writing reasonably 
                                              request from time to time.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 26&#8212;Minister's Power of 
                                              Direction.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Subject to the provisions of 
                                              paragraph 6 of this Instrument 
                                              (which requires the Corporation to 
                                              operate on sound commercial 
                                              lines), the Minister may give 
                                              general directions in writing to 
                                              the Corporation on matters of 
                                              policy and the Corporation shall 
                                              be bound to comply with such 
                                              directions.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 27&#8212;Bye-laws or Other 
                                              Instruments.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board may make bye-laws or 
                                              other instruments for the purpose 
                                              of carrying into effect the 
                                              provisions and principles of this 
                                              Instrument and for regulating any 
                                              matter falling within the scope of 
                                              the functions of the Corporation 
                                              or which is required or authorised 
                                              by this Instrument to be provided 
                                              for by any such instrument.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              general effect of sub-paragraph 
                                              (1) of this paragraph, the Board 
                                              may, subject to the provisions of 
                                              the Constitution and of the Social 
                                              Security Act, 1965 (Act 279) make 
                                              bye-laws or other instruments 
                                              under that sub-paragraph for 
                                              providing the conditions of 
                                              service of the staff of the 
                                              Corporation including, if the 
                                              Board thinks fit, the operation of 
                                              a contributory provident fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 28&#8212;Exemption from Taxes, 
                                              Etc.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Board shall be exempted from 
                                              such taxes and duties as the 
                                              Minister responsible for Finance 
                                              may, by writing direct.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 29&#8212;Interpretation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              In this Instrument, unless the 
                                              context otherwise requires&#8212;</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;Minister&quot; means the Minister 
                                              responsible for Agriculture.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 30&#8212;Dissolution of Former 
                                              Corporation and Transfer of its 
                                              Assets and Liabilities.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Ghana Food Marketing 
                                              Corporation existing immediately 
                                              before the commencement of this 
                                              Instrument under the Instrument of 
                                              Incorporation of the Ghana Food 
                                              Marketing Corporation, 1966 (L.I. 
                                              502) is hereby dissolved and the 
                                              Instrument of&nbsp; Incorporation is 
                                              hereby revoked.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) There is hereby transferred to 
                                              the Corporation established under 
                                              this Instrument all assets, 
                                              rights, obligations and 
                                              liabilities of the first mentioned 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              E. AKUFO-ADDO</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              President</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Date of Gazette Notification: 25th 
                                              November, 1971.</span></p>
