  <p class="MsoNormal" style="text-align: center">
                                              <b>
                                              <span style="font-family: Arial">

                                              AGRICULTURAL DEVELOPMENT CREDIT 
                                              AND CO-OPERATIVE BANK ACT, 1965 
                                              (ACT 286)</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              As amended </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              ARRANGEMENT OF SECTIONS</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212;ESTABLISHMENT INCORPORATION 
                                              AND SHARE CAPITAL OF BANK</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              <a href=#1>1. Establishment of Bank, etc.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#2>2. Share capital and its issue.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#3>3. Increase of share capital.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#4>4. Share register.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART II&#8212;MANAGEMENT</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              <a href=#5>5. Head office and branches.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#6>6. Direction and control.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#7>7. Board of Directors.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#8>8. Managing Director.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#9>9. Casual vacancy.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              <a href=#10>10. Executive Committee.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#11>11. Disqualification of Directors.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#12>12. Meetings of Board and 
                                              Executive Committee.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART III&#8212;BUSINESS AND FUNCTIONS OF 
                                              THE BANK, ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#1>13. Functions of Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              <a href=#14>14. Government guarantees.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#15>15. Research and training.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#6>16. Preference to institutions 
                                              having Government investment, etc.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#17>17. Repayment of loans in full in 
                                              certain circumstances.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#18>18. Recovery of debts.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              <a href=#19>19. Borrowing powers of Bank.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#20>20. Guarantees and loans repayable 
                                              by Government.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#21>21. Management of special funds.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART IV&#8212;REVERSES, AUDIT, RETURNS, 
                                              ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#22>22. General Reserve Fund.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              <a href=#23>23. Dividends.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#24>24. Audit.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#25>25. Duties and powers of auditors, 
                                              etc.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#26>26. Internal auditor.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#27>27. Accounts.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              PART V&#8212;SPECIAL PROVISIONS RELATING 
                                              TO FARMERS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#28>28. Notification of loans by 
                                              farmers to Bank.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#29>29. Provision for repayment of 
                                              principal borrowed.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#30>30. Certain prohibitions.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART VI&#8212;MISCELLANEOUS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              <a href=#31>31. Liquidation of Bank.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#32>32. Service of documents.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#33>33. Offences.</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#34>34. Officers and advisers.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#35>35. Protection of Directors, etc.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              <a href=#36>36. Disclosure of information, 
                                              etc.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#37>37. Regulations.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#37A>37A&amp;B By-laws</a></span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#38>38. Interpretation.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              <a href=#39>39. Vesting of assets, etc.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              <a href=#40>40. Member of Council.</a></span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">&nbsp;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">&nbsp;</span></p>
                                              <p class="MsoNormal" style="text-align: center">
                                              <span style="font-family: Arial">
                                              <b>THE TWO HUNDRED AND 
                                              EIGHTY-SIXTH</b></span></p>

                                              <p class="MsoNormal" style="text-align: center">
                                              <b><img border="0" src="coatofarms_small.jpg" width="108" height="89"></b></p>
                                              <p class="MsoNormal" style="text-align: center">
                                              <span style="font-family: Arial; font-weight: 700">
                                              ACT OF THE PARLIAMENT OF THE 
                                              REPUBLIC OF GHANA</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              ENTITLED</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              THE AGRICULTURAL DEVELOPMENT 
                                              CREDIT AND CO-OPERATIVE BANK ACT, 
                                              1965</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              AN ACT to establish an 
                                              Agricultural Credit and 
                                              Co-operative Bank for providing 
                                              credit facilities to 
                                              agriculturists and persons engaged 
                                              in cottage industries, and to make 
                                              provision for connected purposes.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              DATE OF ASSENT: 9th April, 1965.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              BE IT ENACTED by the President and 
                                              the National Assembly in this 
                                              present Parliament assembled as 
                                              follows:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212;ESTABLISHMENT, 
                                              INCORPORATION AND SHARE CAPITAL OF 
                                              BANK</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=1></a>
                                              <span style="font-family: Arial">
                                              Section 1&#8212;Establishment of Bank, 
                                              Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) A bank called the Agricultural 
                                              Development Bank is hereby 
                                              established to carry out the 
                                              purposes of this Act. [As amended 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 2].</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Bank shall have perpetual 
                                              succession and a common seal and 
                                              may sue or be sued in its 
                                              corporate name; and for and in 
                                              connection with the purposes of 
                                              this Act, may, subject to the 
                                              limitations contained in this Act 
                                              relating to the business which may 
                                              be carried on by the Bank, 
                                              purchase, hold, manage or dispose 
                                              of movable or immovable property, 
                                              and may enter into such contracts 
                                              as may be expedient.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) [Repealed by Agricultural 
                                              Development Bank Act 1965 
                                              (Amendment) Decree, 1967 (NLCD 
                                              182)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
												<a name=2></a>
                                              <span style="font-family: Arial">
                                              Section 2&#8212;Share Capital and its 
                                              Issue.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The authorised share capital of 
                                              the Bank shall be thirty million 
                                              New Cedis divided into one hundred 
                                              and fifty thousand shares of a 
                                              nominal value of two hundred New 
                                              Cedis each to be issued on the 
                                              authority of the Board of 
                                              Directors.[As substituted by 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 3].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) Not less than fifty-one per 
                                              centum of the shares issued at any 
                                              time shall be subscribed by the 
                                              Government and the remaining 
                                              shares, if any, shall be offered 
                                              to the Bank of Ghana, Commercial 
                                              Banks, Councils established under 
                                              the Local Government Act, 1961 
                                              (Act 54), co-operative societies, 
                                              and other institutions approved by 
                                              the Minister, in such proportion 
                                              and on such terms and conditions 
                                              as the Minister may determine at 
                                              the time of each issue.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=3></a>
                                              <span style="font-family: Arial">
                                              Section 3&#8212;Increase of Share 
                                              Capital.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Subject to the prior approval of 
                                              the Minister, the authorised share 
                                              capital may be increased from time 
                                              to time by the Bank. [As amended 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 4].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=4></a>
                                              <span style="font-family: Arial">
                                              Section 4&#8212;Share Register.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Bank shall maintain at its 
                                              Head Office a register to be 
                                              called the Share Register and 
                                              shall enter therein such 
                                              particulars as may be prescribed 
                                              by regulations.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART II&#8212;MANAGEMENT</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
												<a name=5></a>
                                              Section 5&#8212;Head Office and 
                                              Branches.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Head Office of the Bank 
                                              shall be in Accra or such other 
                                              place as the Minister may direct.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Bank may open branches in 
                                              Ghana in accordance with decisions 
                                              of the Board in that behalf.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=6></a>
                                              <span style="font-family: Arial">
                                              Section 6&#8212;Direction and Control.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The general direction and 
                                              control of the affairs and 
                                              business of the Bank shall be 
                                              vested in a Board of Directors to 
                                              be constituted in accordance with 
                                              the provisions of section 7 and 
                                              the Board so constituted may 
                                              exercise all such powers and do 
                                              all such acts and things as may be 
                                              exercised or done by the Bank in 
                                              accordance with the provisions of 
                                              this Act.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) In discharging its functions, 
                                              the Board shall act on commercial 
                                              considerations, but with due 
                                              regard to Government's policy on 
                                              agriculture and cottage 
                                              industries.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=7></a>
                                              <span style="font-family: Arial">
                                              Section 7&#8212;Board of Directors.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board of Directors, 
                                              hereafter referred to as the 
                                              Board, shall consist of the 
                                              following persons:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the Managing Director;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (b) an Executive Director to be 
                                              appointed from the Management's 
                                              staff of the Bank by the Member of 
                                              the Council responsible for 
                                              Finance;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) a representative of the Bank 
                                              of Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) a representative from the 
                                              Ministry of Finance;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (e) two Directors appointed, by 
                                              the Member of the Council 
                                              responsible for Finance, one of 
                                              whom shall be conversant with 
                                              agricultural matters and the other 
                                              in co-operative matters; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (f) a representative nominated by 
                                              shareholders.&quot;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) The Chairman shall be 
                                              appointed by the aforesaid Member 
                                              from amongst them. [As substituted 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 5].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The Chairman shall be 
                                              appointed by the President on the 
                                              recommendation of the Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=8></a>
                                              <span style="font-family: Arial">
                                              Section 8&#8212;Managing Director.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Managing Director shall be 
                                              a person of recognised financial 
                                              or banking experience and shall be 
                                              appointed by the Member of the 
                                              Council responsible for Finance; 
                                              he shall be eligible for 
                                              re-appointment for a period not 
                                              exceeding five years on such 
                                              salary and terms and conditions of 
                                              service as may be specified in his 
                                              letter of appointment. [As amended 
                                              by the Agricultural Development 
                                              Bank Act, 1965 (Amendment) Decree, 
                                              1967 (NLCD 182) s. 6]</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Managing Director shall be 
                                              the Chief Executive Officer of the 
                                              Bank and shall on behalf of the 
                                              Board direct and control the day 
                                              to day affairs of the Bank subject 
                                              to such regulations as the Board 
                                              may make under this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (3) Except as otherwise directed 
                                              by the Minister, the Managing 
                                              Director shall devote his whole 
                                              time to the affairs of the Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=9></a>
                                              <span style="font-family: Arial">
                                              Section 9&#8212;Casual Vacancy.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              In the event of a casual vacancy 
                                              occurring in the office of a 
                                              Director, a new Director shall, 
                                              subject to the provisions of this 
                                              Act, be appointed in the same 
                                              manner as his predecessor for the 
                                              remainder of the term of such 
                                              predecessor.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=10></a>
                                              <span style="font-family: Arial">
                                              Section 10&#8212;Executive Committee.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              [Repealed by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree, 1967 (NLCD 
                                              172) s. 7].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=11></a>
                                              <span style="font-family: Arial">
                                              Section 11&#8212;Disqualification of 
                                              Directors.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (1) No person shall be qualified 
                                              to be appointed a Director of the 
                                              Bank who, having been declared an 
                                              insolvent or a bankrupt under any 
                                              law in force in Ghana or in any 
                                              other country, is an insolvent, or 
                                              bankrupt, who has not been 
                                              discharged.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) A Director of the Bank shall 
                                              cease to hold office if:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) he becomes a person of unsound 
                                              mind or incapable of carrying out 
                                              his duties;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) he is declared an insolvent or 
                                              a bankrupt under any law in force 
                                              in Ghana or in any other country 
                                              or compounds with his creditors;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) he is convicted of a felony or 
                                              any offence involving fraud or 
                                              dishonesty;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (d) he is guilty of serious 
                                              misconduct in relation to his 
                                              duties;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (e) in the case of a person 
                                              possessed of professional 
                                              qualifications, he is disqualified 
                                              or suspended, otherwise than at 
                                              his own request, from practising 
                                              his profession in Ghana or in any 
                                              other country by order of any 
                                              competent authority made in 
                                              respect of him personally, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (f) he absents himself from three 
                                              consecutive meetings of the Board 
                                              without leave of absence from the 
                                              Chairman, or in the case of the 
                                              Chairman, from the Member of the 
                                              Council responsible for Finance. 
                                              [As substituted by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree, 1967 (NLCD 
                                              182) s. 8].</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=12></a>
                                              <span style="font-family: Arial">
                                              Section 12&#8212;Meetings of Board and 
                                              Executive Committee.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall meet as often 
                                              as the business of the Bank 
                                              requires but not less frequently 
                                              than once in each month.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) No business of the Board shall 
                                              be transacted except at a meeting 
                                              at which a quorum of four 
                                              Directors are present. [As 
                                              substituted by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree, 1967 (NLCD 
                                              182) s. 9(1)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The meetings of the Board 
                                              shall be held at such time and 
                                              place as may be determined by the 
                                              Chairman. [As amended by 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree, 1967 (NLCD 
                                              182) s. 9(2)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Provided that until regulations 
                                              are made in this behalf under this 
                                              Act such meetings shall be 
                                              convened by the Chairman.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Any meeting of the Board shall 
                                              be presided over by the Chairman 
                                              and in his absence, by the 
                                              Managing Director or in the 
                                              absence of the Managing Director, 
                                              by a member chosen for that 
                                              purpose by the Directors from 
                                              amongst their number present at 
                                              such meeting. [As amended by 
                                              Agricultural &nbsp;Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 9(3)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) At every meeting of the Board, 
                                              each Director shall have one vote, 
                                              and in the event of an equality of 
                                              votes, the person presiding shall 
                                              have a second or casting vote. [As 
                                              amended by Agricultural 
                                              Denvelopment Bank Act, 1965 
                                              (Amendment) Decree, 1967 (NLCD 
                                              182) s. 9(4)].</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) No act or proceedings of the 
                                              Board shall be invalidated by 
                                              reason only of the existence of a 
                                              vacancy among the members thereof. 
                                              [As amended by Agricultural Credit 
                                              and Co-operative Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 9(5)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART III&#8212;BUSINESS AND FUNCTIONS OF 
                                              THE BANK, ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <b>
                                              <a name=13></a>
                                              <span style="font-family: Arial">
                                              Section 13&#8212;Functions of Bank.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Bank shall provide credit 
                                              in cash or in kind, and shall make 
                                              provision for credit to farmers 
                                              for the repayment of debts 
                                              incurred by them in connection 
                                              with the development of their 
                                              farms, for the hiring and renting 
                                              of materials, equipment and 
                                              services and for warehousing 
                                              facilities, on such terms and 
                                              subject to such conditions as may 
                                              be prescribed by regulations made 
                                              under this Act, to agriculturists 
                                              for the purposes of agriculture 
                                              and to persons engaged in cottage 
                                              industries.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              generality of the functions 
                                              specified in subsection (1), the 
                                              Bank shall discharge all or any of 
                                              the following functions:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the acceptance of money for 
                                              savings and current accounts and 
                                              for specified periods;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the borrowing of money for the 
                                              purposes of the Bank's business 
                                              against the security of its assets 
                                              or otherwise;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) the issue and sale of bonds 
                                              and debentures;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) for the purpose of securing 
                                              loans and advances made by the 
                                              Bank, the acceptance of a pledge, 
                                              mortgage, hypothecation or 
                                              assignment to the Bank of any kind 
                                              of movable or immovable property 
                                              or an unconditional guarantee of 
                                              another Bank, or the drawing, 
                                              acceptance, discounting, buying 
                                              and selling or rediscounting of 
                                              bills of exchange and promissory 
                                              notes bearing two or more good 
                                              signatures, or of other negotiable 
                                              instruments; [As amended by 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree, 1967 (NLCD 
                                              182) s. 10 (a)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (e) the subscribing to the shares 
                                              and debentures of any body 
                                              corporate concerned with 
                                              agriculture or the financing of 
                                              cottage industries; [As amended by 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 10(b)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (f) the custody of securities, 
                                              saving certificates, title deeds 
                                              and other documents for collection 
                                              of the proceeds, whether principal 
                                              or interest;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (g) the administration of estates 
                                              for any purpose whether as 
                                              executors, trustees or otherwise;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (h) the paying, receiving, 
                                              collecting and remitting of money 
                                              and dealing in securities;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              the acquiring, maintaining and 
                                              disposing of all movable and 
                                              immovable property;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (j) the taking over, with the 
                                              prior approval of the Minister, of 
                                              the business including the 
                                              capital, assets and liabilities, 
                                              of any other Bank or financial 
                                              institution;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (k) the opening of accounts or the 
                                              making of any agency arrangement 
                                              with, and the acting as agent or 
                                              correspondent of, any Bank or 
                                              financial institution both within 
                                              and outside Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (l) the investing of its funds in 
                                              such securities and in such manner 
                                              as may from time to time be 
                                              determined by the Board;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (m) the sale and realisation of 
                                              all property, whether movable or 
                                              immovable, which may in any way 
                                              come into the possession of the 
                                              Bank in full or part satisfaction 
                                              of any of its claims, and the 
                                              acquisition and the holding of, 
                                              and generally the dealing with, 
                                              any right title or interest in any 
                                              property, movable or immovable, 
                                              which may be the Bank's security 
                                              for any advance or loan or which 
                                              may be connected with any such 
                                              security; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (n) generally the doing of all 
                                              such other acts and things as may 
                                              be necessary, incidental or 
                                              conducive to the attainment of the 
                                              aforesaid functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Notwithstanding anything 
                                              contained in any law for the time 
                                              being in force, it shall be lawful 
                                              for any agriculturist or person 
                                              engaged in cottage industries to 
                                              pledge, mortgage, hypothecate or 
                                              assign any kind or quantity of 
                                              movable or immovable property to 
                                              the Bank, or otherwise to create a 
                                              charge on any such property, in 
                                              order to secure the repayment of a 
                                              loan, and the Bank shall, in 
                                              accordance with the provisions of 
                                              this Act, be competent to deal 
                                              with and recover debts owed to the 
                                              Bank in respect of any property so 
                                              pledged, mortgaged, hypothecated 
                                              or assigned.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Notwithstanding anything 
                                              contained in any other law for the 
                                              time being in force, any charge 
                                              created on any property to secure 
                                              the repayment of a loan granted by 
                                              the Bank, or to secure the 
                                              performance of the stipulations of 
                                              any bond executed in favour of the 
                                              Bank, shall be enforceable against 
                                              such property in the hands of any 
                                              person to whom it may have been 
                                              transferred; including the person 
                                              who has acquired the property for 
                                              consideration and without notice 
                                              of the charge.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) [Repealed by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 10 (2)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
												<a name=14></a>
                                              <span style="font-family: Arial">
                                              Section 14&#8212;Government Guarantees.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              [Repealed by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s.11 ].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
												<a name=15></a>
                                              <span style="font-family: Arial">
                                              Section 15&#8212;Research and Training.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Bank may undertake, if 
                                              necessary, in collaboration or 
                                              consultation with official or 
                                              non-official authorities, both or 
                                              either of the following 
                                              functions:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (a) any research on agricultural 
                                              credit, marketing of agricultural 
                                              produce, agricultural credit 
                                              co-operative societies, cottage 
                                              industries and other similar 
                                              subjects; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the provision of training 
                                              facilities, including the 
                                              establishment of training 
                                              institutes, for the benefit of its 
                                              personnel and those of 
                                              co-operative societies and other 
                                              bodies corporate which may have 
                                              financial relations with the Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              	<a name=16></a>
                                              <span style="font-family: Arial">
                                              Section 16&#8212;Preference to 
                                              Institutions having Government 
                                              Investment, Etc.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              [Repealed by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s.12].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=17></a>
                                              <span style="font-family: Arial">
                                              Section 17&#8212;Repayment of Loans in 
                                              Full in Certain Circumstances.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Notwithstanding any agreement to 
                                              the contrary, the Bank may by 
                                              giving notice, require any loan to 
                                              be paid in full forthwith to the 
                                              Bank in any of the following 
                                              circumstances:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) where the borrower has failed 
                                              to comply with any term of the 
                                              agreement under which the relevant 
                                              loan, advance or credit has been 
                                              granted;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (b) where in the opinion of the 
                                              Bank false or misleading 
                                              information on any material 
                                              particular has been given in the 
                                              application for the relevant loan, 
                                              advance or credit or in any other 
                                              statement or communication made in 
                                              connection with any loan, advance 
                                              or credit granted;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) where the property mortgaged, 
                                              hypothecated or assigned to the 
                                              Bank as security for the advance, 
                                              loan or credit is not maintained, 
                                              in proper condition, to the 
                                              satisfaction of the Bank or its 
                                              value as estimated by the Bank has 
                                              depreciated by more than twenty 
                                              per centum, and further security 
                                              to the satisfaction of the Bank 
                                              has not been given within the time 
                                              specified by the Bank;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) where without the permission 
                                              of the Bank, any property pledged, 
                                              mortgaged, hypothecated or 
                                              assigned to the Bank is leased or 
                                              rented to a third party or is in 
                                              any way charged, disposed of or 
                                              removed from the place where it 
                                              was at the time the loan, advance, 
                                              or credit was granted;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (e) where the loan is not used for 
                                              the purpose for which it was 
                                              granted, or for any other reason 
                                              it is necessary in the opinion of 
                                              the Bank to protect its interests.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=18></a>
                                              <span style="font-family: Arial">
                                              Section 18&#8212;Recovery of Debts.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where any borrower who is, by 
                                              the terms of an agreement under 
                                              any liability to the Bank, makes 
                                              default in repayment or otherwise 
                                              fails to comply with such terms, 
                                              the default or failure not being 
                                              due to natural calamity, the Bank 
                                              may, subject to any regulations 
                                              made in this behalf under this 
                                              Act, take over the management of 
                                              the business of the borrower and 
                                              sell or realise any property 
                                              pledged, mortgaged, hypothecated 
                                              or assigned by the borrower to 
                                              secure his liability to the Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Subject to any prior claim of 
                                              the Government and to any claim in 
                                              respect of rent, any debt or 
                                              liability owed to the Bank by any 
                                              borrower as specified in 
                                              subsection (1) of this section 
                                              shall be a first charge:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (a) upon any crops or other 
                                              agricultural produce raised in 
                                              whole or in part by means of the 
                                              loan obtained from the Bank by the 
                                              borrower, and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) upon any cattle, fodder for 
                                              cattle, agricultural or industrial 
                                              implements, or raw materials for 
                                              manufacture, or upon workshops, 
                                              stores or places of business 
                                              purchased by such borrower in 
                                              whole or in part with the proceeds 
                                              of any loan.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Sums due from a co-operative 
                                              society and recoverable under 
                                              subsection (1) of this section may 
                                              be recovered in accordance with 
                                              the provisions of law for the time 
                                              being in force relating to the 
                                              recovery of such sums.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=19></a>
                                              <span style="font-family: Arial">
                                              Section 19&#8212;Borrowing Powers of 
                                              Bank.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Bank may with the approval of 
                                              the Minister, borrow, raise or 
                                              guarantee any sum of money from 
                                              any source whether in or outside 
                                              Ghana, upon such terms and 
                                              conditions as it may deem fit; and 
                                              for the purpose of securing the 
                                              same and interest thereon create, 
                                              issue, make or give any bonds or 
                                              debentures, or create a mortgage 
                                              or charge on the whole or part of 
                                              the property, rights, present or 
                                              future of the Bank.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=20></a>
                                              <span style="font-family: Arial">
                                              Section 20&#8212;Guarantees and Loans 
                                              Repayable by Government.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Minister may in writing, 
                                              in the name and on behalf of the 
                                              Government or any agent thereof, 
                                              on such terms and conditions as 
                                              may be determined by the Minister;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) guarantee, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) agree to repay,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              loans raised by the Bank from any 
                                              international financial 
                                              organisation or from any foreign 
                                              financial institution.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Loans guaranteed or agreed to 
                                              be repaid under subsection (1) of 
                                              this section may be denominated in 
                                              foreign currency.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) All moneys payable under any 
                                              guarantee or agreement under this 
                                              section shall be charged on the 
                                              Consolidated Fund.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=21></a>
                                              <span style="font-family: Arial">
                                              Section 21&#8212;Management of Special 
                                              Funds.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Bank may establish, or be 
                                              entrusted with the administration 
                                              of special funds which are 
                                              designed to serve a particular 
                                              purpose.&nbsp; It may receive, hold, 
                                              use, commit or otherwise dispose 
                                              of resources appertaining to such 
                                              special funds.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Bank shall whenever 
                                              requested to manage any funds 
                                              under subsection (1) of this 
                                              section maintain separate records 
                                              or accounts for such funds and 
                                              shall specify them separately on 
                                              the balance sheets and other 
                                              financial records of the Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART IV&#8212;RESERVES, AUDIT, RETURNS, 
                                              ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <b>
                                              <a name=22></a>
                                              <span style="font-family: Arial">
                                              Section 22&#8212;General Reserve Fund.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Bank shall establish a 
                                              fund to be called the General 
                                              Reserve Fund and create from time 
                                              to time such other reserves as the 
                                              Board may determine with the prior 
                                              approval of the Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) After making adequate 
                                              provisions for bad and doubtful 
                                              debts, depreciation of assets, 
                                              contribution to staff and 
                                              superannuation funds and other 
                                              contingencies and for any other 
                                              purpose to which the profits of 
                                              the Bank may properly be applied, 
                                              there shall be transferred to the 
                                              General Reserve Fund:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the whole of the net profits 
                                              of the Bank, if the amount of 
                                              moneys in such fund is less than 
                                              one-quarter of the paid up capital 
                                              of the Bank; [As amended 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 13].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) three-quarter of the net 
                                              profits of the Bank, if the amount 
                                              of moneys in such Fund is less 
                                              than one-half of the paid up 
                                              capital of the Bank; [As amended 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 13].</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) one-half of the net profits of 
                                              the Bank if the amount of moneys 
                                              in such Fund is less than the paid 
                                              up capital of the Bank; [As 
                                              amended Agricultural Development 
                                              Bank Act, 1965 (Amendment) Decree 
                                              1967 (NLCD 182) s. 13].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) one-quarter of the net profits 
                                              of the Bank if the amount of 
                                              moneys in such Fund is not less 
                                              than the paid up capital of the 
                                              Bank; and&nbsp; [As amended 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 13].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">

                                              <span style="font-family: Arial">
                                              (e) any moneys thereafter 
                                              remaining, after the payment of 
                                              dividends declared by the Board.
                                              </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=23></a>
                                              <span style="font-family: Arial">
                                              Section 23&#8212;Dividends.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) The Bank shall not declare nor 
                                              pay any dividends in excess of 
                                              four per centum per annum on 
                                              shares issued other than to the 
                                              Government at any time when the 
                                              amount of moneys in the general 
                                              reserve fund is less than one-half 
                                              of the paid up capital of the 
                                              Bank. [As amended Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 14 (1) (2) (3)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=24></a>
                                              <span style="font-family: Arial">
                                              Section 24&#8212;Audit.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) An auditor shall be elected 
                                              and his remuneration fixed by the 
                                              Board in consultation with the 
                                              Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) If any casual vacancy occurs 
                                              in the office of auditor, the 
                                              vacancy shall be filled by the 
                                              Board in consultation with the 
                                              Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) An auditor shall be eligible 
                                              for re-election.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Without prejudice to the 
                                              foregoing provisions of this 
                                              section, the Minister may at any 
                                              time, in his absolute discretion 
                                              request the Auditor-General or 
                                              such other auditors as the 
                                              Minister may appoint, to examine 
                                              and report on the accounts of the 
                                              Bank and the Bank shall provide 
                                              all necessary and proper 
                                              facilities therefor.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=25></a>
                                              <span style="font-family: Arial">
                                              Section 25&#8212;Duties and Powers of 
                                              Auditors, Etc.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) In the discharge of his 
                                              functions under this Act the 
                                              auditor of the Bank shall have 
                                              access at all reasonable times to 
                                              the books, accounts and other 
                                              documents of the Bank and may at 
                                              the expense of the Bank if 
                                              appointed by the Bank and at the 
                                              expense of the Government if 
                                              appointed by the Minister, employ 
                                              accountants or other persons to 
                                              assist him in investigating the 
                                              accounts and may in relation to 
                                              such accounts examine any director 
                                              or employee of the Bank.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The auditor of the Bank shall 
                                              be supplied by the Bank with all 
                                              notices and other communications 
                                              relating to any general meeting 
                                              which any shareholder of the Bank 
                                              is entitled to receive and shall 
                                              be entitled to attend any such 
                                              meeting and to be heard thereat on 
                                              any part of the business of the 
                                              meeting which concerns him as 
                                              auditor but he shall not be 
                                              entitled to vote on any matter 
                                              before the meeting.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (3) The auditor shall make a 
                                              report to the shareholders or to 
                                              the Minister, as the case may be, 
                                              upon the annual statements of 
                                              accounts and in every such report 
                                              he shall state whether, in his 
                                              opinion, the balance sheet shows a 
                                              full and fair view of the state of 
                                              the Bank's affairs, and where he 
                                              has called for any explanation or 
                                              information from the Board, 
                                              whether it was given and whether 
                                              it is satisfactory.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Any such report made to the 
                                              shareholder shall be read together 
                                              with the report of the Board at 
                                              the annual general meeting.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The Bank shall furnish to the 
                                              Minister such returns and 
                                              statements concerning the affairs 
                                              of the Bank as the Minister may 
                                              require from time to time.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=26></a>
                                              <span style="font-family: Arial">
                                              Section 26&#8212;Internal Auditor.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              There shall be a Chief Internal 
                                              Auditor of the Bank who shall be 
                                              appointed by the Board after 
                                              consultation with the Minister.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=27></a>
                                              <span style="font-family: Arial">
                                              Section 27&#8212;Accounts.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall cause proper 
                                              accounts and other records in 
                                              relation thereto to be kept; and 
                                              the books of accounts of the Bank 
                                              shall be balanced on the 
                                              thirty-first day of December of 
                                              each year and shall be audited by 
                                              the auditor of the Bank.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The annual statement of 
                                              accounts as audited shall be 
                                              signed by the Chairman, two 
                                              directors, the Chief Accountant 
                                              and the Secretary and shall be 
                                              sent to the Minister not later 
                                              than three months after the close 
                                              of each financial year.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The annual statement of 
                                              accounts shall as soon as may be 
                                              practicable, be laid by the 
                                              Minister before Parliament and 
                                              shall be published in the Gazette.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (4) The Bank shall:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              exhibit throughout the year in a 
                                              conspicuous position in every 
                                              office or branch of the Bank in 
                                              Ghana a copy of its last audited 
                                              balance-sheet;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) on or about the date of the 
                                              presentation of the accounts to 
                                              the shareholders in general 
                                              meeting, cause a copy thereof to 
                                              be published in a daily newspaper 
                                              circulating in Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">

                                              <span style="font-family: Arial">
                                              (iii) not later than seven days 
                                              prior to the date of the general 
                                              meeting send a copy thereof to 
                                              each shareholder entitled to 
                                              attend such meeting.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART V&#8212;EXEMPTIONS, ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
												<a name=28></a>
                                              <span style="font-family: Arial">
                                              Section 28&#8212;Exemption from Income 
                                              Tax.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Bank shall be exempt from 
                                              income tax or duty imposed by the 
                                              Income Tax Decree, 1966 (NLCD 78) 
                                              or any statutory modifications or 
                                              re-enactment thereof. </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
												<a name=29></a>
                                              <span style="font-family: Arial">
                                              Section 29&#8212;Non-application of Act 
                                              179.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The provisions of the Companies 
                                              Code, 1963 (Act 179), or any 
                                              statutory modifications or 
                                              re-enactment thereof shall not 
                                              apply to the Bank. </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=30></a>

                                              <span style="font-family: Arial">
                                              Section 30&#8212;Limitation of Liability 
                                              of Shares.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The liability of any holder of 
                                              shares in the Bank shall be 
                                              limited to the amount, if any, 
                                              unpaid on the shares held by such 
                                              holder. [As substituted by 
                                              Agricultural Development Bank Act, 
                                              1965 (Amendment) Decree 1967 (NLCD 
                                              182) s. 15].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              PART VI&#8212;MISCELLANEOUS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=31></a>
                                              <span style="font-family: Arial">
                                              Section 31&#8212;Liquidation of Bank.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Bank shall not be placed in 
                                              liquidation except under an Act 
                                              passed in that behalf and in 
                                              accordance with its provisions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=32></a>
                                              <span style="font-family: Arial">
                                              Section 32&#8212;Service of Documents.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Any document may be served on the 
                                              Bank by leaving it at or sending 
                                              it by registered post to, the head 
                                              office.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=33></a>
                                              <span style="font-family: Arial">
                                              Section 33&#8212;Offences.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (1) Any person who contravenes the 
                                              provisions of this Act, for which 
                                              no other penalty has been 
                                              expressly provided in this Act, or 
                                              knowingly makes an incorrect 
                                              statement in a document submitted 
                                              by him or an incorrect reply to a 
                                              question asked of him for the 
                                              purpose of this Act, or uses any 
                                              loan or advance for any purpose 
                                              other than that for which it was 
                                              granted by the Bank, shall be 
                                              guilty of an offence and shall be 
                                              liable, after summary trial to a 
                                              fine of two hundred pounds or to a 
                                              term of imprisonment, not 
                                              exceeding one year or to both such 
                                              fine and imprisonment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) In the case of an offence by a 
                                              body of persons:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) where the body of persons is a 
                                              body corporate every director and 
                                              officer of the body corporate 
                                              shall be deemed to be guilty of 
                                              that offence;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) where the body of persons is a 
                                              firm, every partner of that firm 
                                              shall be deemed to be guilty of 
                                              that offence; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) where such body is any other 
                                              body of persons, every individual 
                                              constituting such body shall be 
                                              deemed to be guilty of that 
                                              offence:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Provided that no such person shall 
                                              be deemed to be guilty of the 
                                              offence, if he proves that such 
                                              offence was committed without his 
                                              knowledge or that he exercised 
                                              diligence to prevent the 
                                              commission of the offence.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=34></a>
                                              <span style="font-family: Arial">
                                              Section 34&#8212;Officers and Advisers.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Bank may appoint or employ 
                                              such persons, including advisers 
                                              as it considers necessary for the 
                                              efficient performance of its 
                                              operations on such terms and 
                                              conditions as may be specified in 
                                              regulations made under this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=35></a>
                                              <span style="font-family: Arial">
                                              Section 35&#8212;Protection of 
                                              Directors, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              No Director, officer or other 
                                              employee of the Bank shall be 
                                              liable for any act done by him 
                                              bona fide in the discharge of his 
                                              functions under this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=36></a>
                                              <span style="font-family: Arial">
                                              Section 36&#8212;Disclosure of 
                                              Information, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (1) No person, of whatever 
                                              designation, participating in the 
                                              direction, administration, control 
                                              and the running of the Bank shall 
                                              disclose any written or oral 
                                              information which he has obtained 
                                              by virtue of any function of his 
                                              under this Act, unless he is 
                                              otherwise called upon to give 
                                              evidence in a court of competent 
                                              jurisdiction or to fulfil any 
                                              obligation imposed by law or in 
                                              the discharge of any such 
                                              function.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Any person who contravenes 
                                              this section shall be guilty of an 
                                              offence and shall, on summary 
                                              conviction, be liable to 
                                              imprisonment for a term of five 
                                              (but not less than five) years.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=37></a>
                                              <span style="font-family: Arial">
                                              Section 37&#8212;Regulations.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Member of the Council 
                                              responsible for Finance; may, by 
                                              legislative instrument, make 
                                              regulations for any matter in 
                                              respect of which regulations are 
                                              required to be made under this Act 
                                              and for carrying out the 
                                              principles and provisions of this 
                                              Act. [As amended by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 16 (1)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              provisions of subsection (1), such 
                                              regulations may provide for all or 
                                              any of the following matters:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (a) the manner in which the 
                                              conditions subject to which the 
                                              shares of the Bank may be held and 
                                              transferred, and generally all 
                                              matters relating to the rights and 
                                              duties of the shareholders;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the duties and powers of the 
                                              Chairman;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) the manner, conditions and 
                                              terms of issue and redemption of 
                                              funds and debentures;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) the conditions on which 
                                              advances, loans and credit may be 
                                              granted to either or both the 
                                              following description of persons&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">(i) 
                                              any person discharging any 
                                              function under this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (ii) the individuals, co-operative 
                                              societies and other bodies 
                                              corporate with whom such person or 
                                              his relatives is or are connected 
                                              as partners, directors, managers, 
                                              servants, shareholders or 
                                              otherwise;</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (e) the conduct of business at the 
                                              meetings of the Board. [As amended 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 16 (2)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (f) the procedure for the recovery 
                                              of loans and other debts due to 
                                              the Bank;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (g) the disclosure of interest, 
                                              direct or indirect, of a Director 
                                              in any application for loans;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (h) the recruitment of the 
                                              employees of the Bank, the terms 
                                              and conditions of their service, 
                                              the constitution and management of 
                                              Provident Funds for the employees 
                                              of the Bank and all other matters 
                                              connected with any of these 
                                              matters;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              the duties and conduct of 
                                              employees and agents;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">

                                              <span style="font-family: Arial">
                                              (j) the form of returns and 
                                              statements;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (k) preparation of annual 
                                              estimates of income and 
                                              expenditure of the Bank and their 
                                              submission to the Board and the 
                                              Minister; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (l) the registration of farmers 
                                              who have incurred debts to such 
                                              other farmers or other persons, 
                                              the repayment of such debts by 
                                              loans from the Bank and for other 
                                              matters connected with such 
                                              repayment, save as otherwise 
                                              expressly provided in this Act.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=37A></a>
                                              <span style="font-family: Arial">
                                              Section 37A&#8212; Bye-laws.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Board may, with the prior 
                                              approval of the Minister make 
                                              bye-laws not inconsistent with the 
                                              provisions of this Act regulating 
                                              its functions under this Act 
                                              including the following, namely:</span></p>

                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the operating policy, rules 
                                              and procedures, and conduct of the 
                                              general business of the Bank;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the books and accounts to be 
                                              kept at the head office and 
                                              branches of the Bank;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">

                                              (c) the conduct and defence of 
                                              legal proceedings and the manner 
                                              of signing pleadings; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) the constitution and 
                                              management of a provident fund for 
                                              the employees of the Bank. [As 
                                              inserted by Agricultural 
                                              Development Bank (Amendment) Act, 
                                              1970 s. 1].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 37B&#8212; Bye-laws. </span></b>

                                              </p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The remuneration of the Directors 
                                              shall be determined by the 
                                              Minister of Finance and Economic 
                                              Planning. [As inserted by 
                                              Agricultural Development Bank 
                                              (Amendment) Act, 1970 s. 1].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <a name=38></a>
                                              <span style="font-family: Arial">
                                              Section 38&#8212;Interpretation.</span></b></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              In this Act, unless the context 
                                              otherwise requires:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;agriculture&quot; includes the raising 
                                              of crops, horticulture, forestry, 
                                              fishery, animal husbandry, poultry 
                                              farming, dairy farming, 
                                              bee-keeping and agriculture;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              &quot;agriculturist&quot; means any person 
                                              engaged in agriculture, farming or 
                                              in the development of agriculture 
                                              or agricultural produce, or in the 
                                              storage, warehousing, marketing or 
                                              processing of agricultural 
                                              produce;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;Bank&quot; means the Development Bank 
                                              established by section 1 of this 
                                              Act; [As amended by Agricultural 
                                              Development Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 17 (1)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              &quot;Chairman&quot; means Chairman of the 
                                              Board of Directors;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;co-operative society&quot; means any 
                                              Co-operative Society registered in 
                                              Ghana under any law for the time 
                                              being in force relating to the 
                                              registration of Co-operative 
                                              Societies;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              &quot;cottage industry&quot; means an 
                                              industry which is carried on 
                                              wholly or mainly by the members of 
                                              a family either as a full-time 
                                              occupation or by a group of such 
                                              persons who have formed themselves 
                                              into a co-operative society; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;Council&quot; means the National 
                                              Liberation Council [As substituted 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 17 (2)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <b>
                                              <a name=39></a>
                                              <span style="font-family: Arial">
                                              Section 39&#8212;Vesting of Assets, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              All rights, assets and property 
                                              held for, or on behalf of, the 
                                              Rural Credit Department of the 
                                              Bank of Ghana, and all liabilities 
                                              of the said Department shall be 
                                              deemed to have been vested, with 
                                              effect from August 1, 1965, in the 
                                              Agricultural Credit and 
                                              Co-operative Bank, in this Decree 
                                              referred to as the Agricultural 
                                              Development Bank. [As substituted 
                                              by Agricultural Development Bank 
                                              Act, 1965 (Amendment) Decree 1967 
                                              (NLCD 182) s. 18].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <b>
                                              <a name=40></a>
                                              <span style="font-family: Arial">
                                              Section 40&#8212;Member of Council.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The principal Act is hereby 
                                              amended by the substitution for 
                                              the word Minister, wherever that 
                                              word occurs therein, of the words 
                                              Member of the Council responsible 
                                              for Finance. [As&nbsp; inserted by 
                                              Agricultural Credit and 
                                              Co-operative Bank Act, 1965 
                                              (Amendment) Decree 1967 (NLCD 182) 
                                              s. 19].</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              amended by</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              AGRICULTURAL DEVELOPMENT CREDIT 
                                              AND CO-OPERATIVE BANK ACT, 1965 
                                              (AMENDMENT) DECREE, 1967 (NLCD 
                                              182)2.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              THE AGRICULTURAL DEVELOPMENT BANK 
                                              (AMENDMENT) ACT, 1970 (ACT 352)3.</span></p>
