WHEREAS under section 29 of the Non-Performing Assets (Loans, Investments Recovery) Law, 1990 (P.N.D.C.L. 242) provision is made that the Law shall continue in force until 31st December, 1994 unless upon the recommendation of the Minister responsible for Finance the Provisional National Defence Council by order in the Gazette, extends the duration of the Law for a further period not exceeding one year;

AND WHEREAS by section 29 of the Transitional Provisions of the Constitution, provision is made in subsection (3) that a reference to the Provisional National Defence Council in any enactment in existence immediately before the coming into force of the Constitution shall, where the reference relates to an executive function of the Council be construed as a reference to the President;

NOW THEREFORE, in exercise of the power conferred on the President by section 29 of the Non-Performing Assets (Loans, Investments Recovery) Law, 1990 (P.N.D.C.L. 242) and on the recommendation of the Minister responsible for Finance this order is made this 30th day of December, 1994.

The Non-Performing Assets (Loans, Investments Recovery) Law, 1990, (P.N.D.C.L. 242) is hereby continued in force for a further period of one year from the 31st day of December, 1994.

JERRY JOHN RAWLINGS

President of the Republic of Ghana

Date of Gazette Notification: 31st March, 1995.