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

                                              <span style="font-family: Arial">
                                              IN exercise of the powers 
                                              conferred on the President by 
                                              sections 1, 2 and 4 of the 
                                              Statutory Corporations Act, 1964 
                                              (Act 232), this Instrument is made 
                                              this 26th day of October, 1971.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212;ESTABLISHMENT OF GRAPHIC 
                                              CORPORATION</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 1&#8212;Establishment of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              There is hereby established a body 
                                              corporate to be known as the 
                                              Graphic Corporation in this 
                                              Instrument referred to as &quot;the 
                                              Corporation.&quot;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 2&#8212;Compulsory Acquisition 
                                              of Property for Corporation where 
                                              there is Hindrance.</span></p>

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

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

                                              (a) to carry on the business of 
                                              newspaper proprietors, and of 
                                              newspaper and general printers and 
                                              publishers, advertisers, and 
                                              advertising agents and 
                                              contractors;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) to purchase or otherwise 
                                              acquire or start either wholly or 
                                              in part, and to print, publish, 
                                              edit, and sell any newspaper, 
                                              journal, magazine, periodical, 
                                              print, picture, engraving, musical 
                                              composition or book, and to carry 
                                              on the business of lithographers, 
                                              electrotypers, bill-posters, 
                                              bookbinders, booksellers, 
                                              stationers, paper-makers, 
                                              typefounders, typecutters, and 
                                              dealers in type, ink, paper and 
                                              other materials required for or in 
                                              connection with the business of 
                                              printers and publishers;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) to collect and disseminate 
                                              news and information;</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (d) to carry on business as 
                                              shorthand writers and reporters, 
                                              and to sell and supply news, 
                                              information, literary or artistic 
                                              productions, articles, novels, 
                                              books and other similar works;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (e) to carry on such other 
                                              businesses as may be conveniently 
                                              or profitably carried on 
                                              therewith;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (f) to manufacture and deal in all 
                                              kinds of articles and things 
                                              required for the purposes of any 
                                              such business as aforesaid or 
                                              commonly dealt with by persons 
                                              engaged in any such businesses; 
                                              and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (g) to do such other things as may 
                                              appear to the Corporation to be 
                                              incidental or conducive to all or 
                                              any of the aforesaid objects.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 4&#8212;Corporation to Conduct 
                                              its Affairs on Sound Commercial 
                                              Lines.</span></p>

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

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 5&#8212;The Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The governing body of the 
                                              Corporation shall be a Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) The Board shall consist of&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) a Chairman and seven persons 
                                              appointed by the President acting 
                                              in consultation with the Council 
                                              of State; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) the person appointed General 
                                              Manager under paragraph 9 of this 
                                              Instrument.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 6&#8212;Qualifications and 
                                              Vacation of Office of Members of 
                                              Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) No person shall be qualified 
                                              to be a member of the Board&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (a) if he has been sentenced to 
                                              death or to a term of imprisonment 
                                              exceeding twelve months without 
                                              option of a fine or has been 
                                              convicted of an offence involving 
                                              dishonesty or moral turpitude and 
                                              in each case has not been granted 
                                              free pardon; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) if he is adjudged to be a 
                                              person of unsound mind; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c)&nbsp; if having been declared as an 
                                              insolvent or bankrupt under any 
                                              law for the time being in force in 
                                              Ghana or in any other country he 
                                              is an undischarged insolvent or 
                                              bankrupt.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The members of the Board other 
                                              than the General Manager shall 
                                              hold office for one year.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Any member of the Board other 
                                              than the General Manager may 
                                              resign his office by notice in 
                                              writing addressed to the Minister 
                                              and without prejudice to the 
                                              general effect of sub-paragraph 
                                              (1) of this paragraph, any member 
                                              of the Board may be removed from 
                                              office by the President acting in 
                                              consultation with the Council of 
                                              State.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (4) Where the office of a member 
                                              of the Board other than the 
                                              General Manager becomes vacant 
                                              under sub-paragraph (1) or (3) of 
                                              this paragraph before the 
                                              expiration of his term of office 
                                              under sub-paragraph (2) of this 
                                              paragraph or by his death, the 
                                              Minister shall notify the 
                                              President of the occurrence of 
                                              such event and the President 
                                              shall, acting in consultation with 
                                              the Council of State and subject 
                                              to the provisions of this 
                                              Instrument, appoint another person 
                                              in his place and to hold office 
                                              for the unexpired portion of his 
                                              term of office.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Subject to the provisions of 
                                              this Instrument where it appears 
                                              to the President on the 
                                              recommendation of the Minister 
                                              that any member of the Board is 
                                              prevented by absence from Ghana, 
                                              or illness or any other sufficient 
                                              cause from performing the duties 
                                              of his office the President acting 
                                              in consultation with the Council 
                                              of State shall appoint another 
                                              person to hold office in his place 
                                              until such time as the President 
                                              is satisfied that such member is 
                                              able again to perform the 
                                              functions of his office or until 
                                              the term of such member expires, 
                                              whichever first occurs.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) Every member of the Board 
                                              shall, on ceasing to be a member, 
                                              be eligible for re-appointment.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 7&#8212;Remuneration of Board 
                                              Members.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Any member appointed to the Board 
                                              under sub-paragraph (2) (a) of 
                                              paragraph 5 of this Instrument as 
                                              well as any person co-opted to the 
                                              Board under paragraph 8 of this 
                                              Instrument may be paid such 
                                              remuneration (if any) as the Board 
                                              may, with the approval of the 
                                              Minister responsible for Finance 
                                              determine in relation to him.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              Section 8&#8212;Meetings of the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall ordinarily 
                                              meet for the despatch of business 
                                              at such times and at such places 
                                              as the Board may determine but 
                                              shall meet at least once in every 
                                              month.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

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

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

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

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 9&#8212;Board to be in Control 
                                              of General Policy of Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board shall, subject to 
                                              the provisions of this Instrument, 
                                              have general control of the 
                                              management of the Corporation on 
                                              matters of policy.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

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

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Where the General Manager is 
                                              prevented by absence from Ghana, 
                                              or illness or any other sufficient 
                                              cause from performing his 
                                              functions under this Instrument 
                                              the Board may, subject to 
                                              sub-paragraph (5) of paragraph 6 
                                              of this Instrument authorise any 
                                              employee of the Corporation to 
                                              perform those functions until such 
                                              time that the General Manager 
                                              shall be able again to perform his 
                                              functions under this Instrument.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) Subject to the provisions of 
                                              this Instrument, the General 
                                              Manager shall be the Chief 
                                              Executive of the Corporation and 
                                              shall subject to the general 
                                              control of the Board on matters of 
                                              policy, and subject in particular 
                                              to such rules as the Board may 
                                              make in that behalf under 
                                              paragraph 24 of this Instrument, 
                                              be charged with the direction of 
                                              the day-to-day business of the 
                                              Corporation and of its 
                                              administration and organisation 
                                              and control of all the employees 
                                              of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (7) Subject to the provisions of 
                                              sub-paragraph (6) of this 
                                              paragraph the General Manager may 
                                              delegate to any employee of the 
                                              Corporation any of his functions 
                                              under this Instrument and may 
                                              impose such conditions with 
                                              respect to the exercise of such 
                                              delegated functions as he may 
                                              think fit:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that nothing in this 
                                              sub-paragraph shall be construed 
                                              so as to absolve the General 
                                              Manager from ultimate 
                                              responsibility for any act done by 
                                              any person in pursuance of any 
                                              such delegation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 10&#8212;Execution of Contracts, 
                                              Etc.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The application of the seal of 
                                              the Corporation shall be 
                                              authenticated by two signatures, 
                                              namely,&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) the signature of the General 
                                              Manager or some other member of 
                                              the Board authorised by the Board 
                                              to authenticate the application of 
                                              the seal, and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (b) the signature of the Secretary 
                                              or some other officer of the 
                                              Corporation authorised by the 
                                              Board to act in the Secretary's 
                                              place for that purpose.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation may by 
                                              instrument in writing under its 
                                              common seal empower any person 
                                              either generally or in respect of 
                                              any specified matters as its 
                                              attorney, to execute deeds on its 
                                              behalf in any place not situated 
                                              in Ghana; and every deed signed by 
                                              such attorney on behalf of the 
                                              Corporation and under his seal, 
                                              shall be binding on the 
                                              Corporation and have the same 
                                              effect as if it were under the 
                                              common seal of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Any instrument or contract 
                                              which, if executed or entered into 
                                              by a person other than a body 
                                              corporate, would not require to be 
                                              under seal, may be executed or 
                                              entered into on behalf of the 
                                              Corporation by the General Manager 
                                              or any member of the Board if such 
                                              person has previously been 
                                              authorised by resolution of the 
                                              Board to execute or enter into 
                                              that particular instrument or 
                                              contract:</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that if the Corporation 
                                              thinks fit it may be by writing 
                                              under its common seal appoint any 
                                              person outside Ghana as agent to 
                                              execute or enter into the 
                                              instrument or contract and the 
                                              instrument or contract if executed 
                                              or entered into on behalf of the 
                                              Corporation shall have effect as 
                                              if it had been duly executed or 
                                              entered into as prescribed for the 
                                              purpose of this sub-paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Every document purporting to 
                                              be an instrument executed or 
                                              issued by or on behalf of the 
                                              Corporation and to be&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (a) sealed with the common seal of 
                                              the Corporation authenticated in 
                                              the manner provided by 
                                              sub-paragraph (1) of this 
                                              paragraph; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) signed by and under the seal 
                                              of a person appointed as attorney 
                                              under sub-paragraph (2) of this 
                                              paragraph; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) signed by the General Manager 
                                              or by a member of the Board or 
                                              other person authorised in 
                                              accordance with sub-paragraph (3) 
                                              of this paragraph to act for that 
                                              purpose,</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              shall be deemed to be so executed 
                                              or issued until the contrary is 
                                              shown.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The provisions of this 
                                              paragraph shall have effect 
                                              subject to the provisions of 
                                              paragraph 9 of this Instrument and 
                                              of section 12 of the Contracts 
                                              Act, 1960 (Act 25).</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              Section 11&#8212;Staff of Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation may from time 
                                              to time engage such &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              employees as may be necessary for 
                                              the proper and efficient conduct 
                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of the business and 
                                              functions of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

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

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Public Officers may be 
                                              transferred or seconded to the 
                                              Corporation or may otherwise give 
                                              assistance thereto.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 12&#8212;Secretary of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have an 
                                              officer to be designated as the 
                                              Secretary of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Secretary shall act as 
                                              secretary to the Board and shall, 
                                              subject to the directions of the 
                                              Board, arrange the business for 
                                              and cause to be recorded and kept 
                                              minutes of all meetings of the 
                                              Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The Secretary shall also 
                                              perform such functions as the 
                                              Board may by writing direct or as 
                                              the General Manager may by writing 
                                              delegate to him and shall be 
                                              assisted in his functions by such 
                                              of the staff of the Corporation as 
                                              the Board may on the 
                                              recommendations of the General 
                                              Manager direct.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 13&#8212;Internal Auditor.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have an 
                                              Internal Auditor.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) Subject to the provisions of 
                                              this Instrument, the Internal 
                                              Auditor shall be responsible to 
                                              the General Manager for the 
                                              performance of his functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) As part of his functions under 
                                              this Instrument the Internal 
                                              Auditor shall, at intervals of 
                                              three months, prepare a report on 
                                              the internal audit work carried 
                                              out by him during the period of 
                                              three months immediately preceding 
                                              the preparation of the report, and 
                                              submit the report to the General 
                                              Manager.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Without prejudice to the 
                                              general effect of sub-paragraph 
                                              (3) of this paragraph, the 
                                              Internal Auditor shall make in 
                                              each report such observations as 
                                              appear to him necessary as to the 
                                              conduct of the financial affairs 
                                              of the Corporation during the 
                                              period to which the report 
                                              relates.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The Internal Auditor shall 
                                              send a copy of each report 
                                              prepared by him under this 
                                              paragraph to the Minister and also 
                                              to each of the following:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Minister responsible for 
                                              Finance;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              the Auditor-General; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Chairman of the Board.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART V&#8212;FINANCIAL PROVISIONS</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 14&#8212;Capital and Funds of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Government may provide to the 
                                              Corporation as working capital and 
                                              also as moneys required for 
                                              carrying out the functions of the 
                                              Corporation such sum as the 
                                              Minister may after consultation 
                                              with the Cabinet agree, being sums 
                                              requested by the Board from the 
                                              Government.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              Section 15&#8212;Staff Welfare Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have a 
                                              staff welfare fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              (2) At the end of each financial 
                                              year, the Corporation shall 
                                              transfer to the staff welfare fund 
                                              such sum, not exceeding 5 per cent 
                                              of the net profits of the 
                                              Corporation as the Board may 
                                              determine.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The Corporation may, with the 
                                              approval of the Minister, use the 
                                              staff welfare fund for the 
                                              provision of staff welfare 
                                              facilities such as canteens, low 
                                              interest bearing staff welfare 
                                              loans and for other purposes aimed 
                                              at enhancing the welfare of the 
                                              staff of the Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 16&#8212;Depreciation Fund.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation shall have a 
                                              depreciation fund and for &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              this purpose the Corporation shall 
                                              open a Depreciation Reserve 
                                              Account with the Bank of Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) At the end of each financial 
                                              year, the Corporation shall 
                                              transfer to the credit of the 
                                              Depreciation Reserve Account all 
                                              amounts charged to profit and loss 
                                              account in respect of depreciation 
                                              for buildings, plant and 
                                              equipment, fixtures and other 
                                              fixed assets.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (3) Amounts so transferred to the 
                                              Depreciation Reserve Account shall 
                                              be utilised only to replace fixed 
                                              assets and equipment which are 
                                              worn out or have become obsolete.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Expenditure in respect of 
                                              current repairs and in respect of 
                                              purchases of spare parts shall not 
                                              be met out of the Depreciation 
                                              Reserve Account but shall be 
                                              charged to the income and 
                                              expenditure account of the 
                                              Corporation for the financial year 
                                              during which the expenditure is 
                                              incurred.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 17&#8212;Corporation to Pay Sums 
                                              into Consolidated Fund.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Subject to paragraph 4 of this 
                                              Instrument at the end of each 
                                              financial year, after the 
                                              Corporation has made provision for 
                                              bad and doubtful debts, 
                                              depreciation of assets, 
                                              contributions to staff and 
                                              superannuation funds and for other 
                                              contingencies, if any, and after 
                                              appropriation has been made to the 
                                              staff welfare fund under paragraph 
                                              15 of this Instrument such part of 
                                              the profits of the Corporation 
                                              remaining as the Minister after 
                                              consultation with the Board and 
                                              with the Minister responsible for 
                                              Finance may by writing direct 
                                              shall be paid into the 
                                              Consolidated Fund.</span></p>
<p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 18&#8212;Borrowing Powers.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) The Corporation may obtain 
                                              loans and other credit facilities, 
                                              on the guarantee of the Government 
                                              from the National Investment Bank 
                                              or from such other Bank as the 
                                              Minister and the Minister for 
                                              Finance may approve.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Apart from the powers of the 
                                              Corporation under sub-paragraph 
                                              (1) of this paragraph, the 
                                              Corporation may, with the prior 
                                              approval of the Minister and the 
                                              Minister responsible for Finance, 
                                              borrow money from any other 
                                              source.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) For the purpose of any 
                                              technical arrangement in 
                                              connection with the raising of any 
                                              loan under sub-paragraph (2) of 
                                              this paragraph the Corporation 
                                              shall, if the National Investment 
                                              Bank agrees, use the services of 
                                              that Bank.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The Corporation may borrow 
                                              temporarily by way of &nbsp;&nbsp; overdraft 
                                              or otherwise, such sums as it may 
                                              require for meeting its current 
                                              obligations or discharging its 
                                              functions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The Minister responsible for 
                                              Finance may on behalf of the 
                                              Government guarantee the 
                                              performance of any obligation or 
                                              undertaking by the Corporation 
                                              under this paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (6) The Minister responsible for 
                                              Finance may from time to time 
                                              prescribe the maximum sums which 
                                              the Corporation may borrow under 
                                              sub-paragraph (1) or (2) of this 
                                              paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 19&#8212;Corporation to Keep 
                                              Proper Books of Account.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Corporation shall keep proper 
                                              books of account and proper 
                                              records in relation thereto and 
                                              the account books and records of 
                                              the Corporation shall be in such 
                                              form as the Auditor-General may 
                                              approve.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 20&#8212;Financial Year of 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Corporation's financial 
                                              year shall end on the 31st day of 
                                              December in each year.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) For the purposes of this 
                                              paragraph the period extending 
                                              from the commencement of this 
                                              Instrument to the 31st day of 
                                              December, 1971 shall be deemed to 
                                              be a financial year.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 21&#8212;Audit.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) The books and accounts of the 
                                              Corporation shall each year be 
                                              audited in accordance with article 
                                              135 of the Constitution by the 
                                              Auditor-General.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation shall pay in 
                                              respect of such audit such fee (if 
                                              any) as the Auditor-General and 
                                              the Board may agree or in the case 
                                              of failure to agree, such fee as 
                                              the Minister may prescribe.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) It shall be the duty of the 
                                              Board as soon as possible upon 
                                              receiving the report of the 
                                              Auditor-General under this 
                                              paragraph to forward a copy of 
                                              such report to the Minister.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The Minister shall as soon as 
                                              practicable upon receipt thereof, 
                                              cause to be laid before the 
                                              National Assembly a copy of the 
                                              Auditor-General's report forwarded 
                                              to him under this paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 22&#8212;Quarterly and Annual 
                                              Reports.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (1) The Board shall cause to be 
                                              submitted to the Minister as soon 
                                              as possible after the months of 
                                              June, September, December and 
                                              March in each financial year a 
                                              statement showing the revenue and 
                                              expenditure of the Corporation and 
                                              fluctuations in the number of 
                                              persons in the employ of the 
                                              Corporation during the three 
                                              months immediately preceding and 
                                              the revenue and expenditure for 
                                              the corresponding period in the 
                                              financial year immediately 
                                              preceding.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Corporation shall, as soon 
                                              as possible after the expiration 
                                              of each financial year but within 
                                              six months after the termination 
                                              of that financial year, submit to 
                                              the Minister an annual report 
                                              dealing generally with the 
                                              activities and operations of the 
                                              Corporation within that year which 
                                              shall, without prejudice to the 
                                              generality of the foregoing 
                                              include&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) a copy of the audited accounts 
                                              of the Corporation together with 
                                              the Auditor-General's report 
                                              thereon;</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) each report submitted in 
                                              relation to that financial year by 
                                              the Internal Auditor under 
                                              paragraph 13 of this Instrument;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) a statement of all directions 
                                              given by the Minister to the 
                                              Corporation under paragraph 23 of 
                                              this Instrument within that year;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

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

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

                                              (5) The Corporation shall also 
                                              submit to the Minister such other 
                                              reports on its financial affairs 
                                              as the Minister may by writing 
                                              reasonably request from time to 
                                              time.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 23&#8212;Minister's Power of 
                                              Direction.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Subject to the provisions of 
                                              paragraph 4 of this Instrument, 
                                              the Minister may give general 
                                              directions in writing to the 
                                              Corporation on matters of policy 
                                              and the Corporation shall be bound 
                                              to comply with such directions.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 24&#8212;Bye-laws or Other 
                                              Instruments.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Board may make bye-laws or 
                                              other instruments for the purpose 
                                              of carrying into effect the 
                                              provisions and principles of this 
                                              Instrument and for regulating any 
                                              matter falling within the scope of 
                                              the functions of the Corporation 
                                              or which is required or authorised 
                                              by this Instrument to be provided 
                                              for by any such instruments.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              general effect of sub-paragraph 
                                              (1) of this paragraph, the Board 
                                              may, subject to the provisions of 
                                              the Social Security Act, 1965 (Act 
                                              279) make bye-laws or other 
                                              instruments under that 
                                              sub-paragraph for providing the 
                                              conditions of service of the staff 
                                              of the Corporation including, if 
                                              the Board thinks fit, the 
                                              operation of a contributory 
                                              provident fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 25&#8212;Exemption from Taxes, 
                                              Etc..</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">

                                              The Corporation shall be exempted 
                                              from such taxes and duties as the 
                                              Minister responsible for Finance 
                                              may, by writing direct.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 26&#8212;Interpretation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              In this Instrument, &quot;Minister&quot; 
                                              means the Minister responsible for 
                                              Information.</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 27&#8212;Dissolution of Former 
                                              Corporation and Transfer of its 
                                              Assets and Liabilities.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Graphic Corporation 
                                              existing immediately before the 
                                              commencement of this Instrument 
                                              under the Graphic Corporation 
                                              Instrument, 1965 (L.I. 416) is 
                                              hereby dissolved and the said 
                                              Instrument is hereby revoked.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">

                                              <span style="font-family: Arial">
                                              (2) There is hereby transferred to 
                                              the Corporation established by 
                                              this Instrument all assets, 
                                              rights, obligations and 
                                              liabilities of the first mentioned 
                                              Corporation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              E. AKUFO-ADDO</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              President</span></p>

                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Date of Gazette Notification: 5th 
                                              November, 1971.</span>