<table>
<tr>
                                            <td vAlign="top" align="left" width="1332" height="64">
                                              <p class="MsoNormal" style="text-align: center">
                                              <b>
                                              <span style="font-family: Arial">
                                              VOLTA</span><span style="font-family: Arial"> 
                                              RIVER PROJECT (SUPPLEMENTARY 
                                              PROVISIONS) ACT, 1962&nbsp; (ACT 
                                              96)</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &nbsp;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">
                                              1. Sections 5 and 6 of Act 25 not 
                                              to apply to certain agreements.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. Financial agreements.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              3. Validity of certain agreements.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              4. Interpretation.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              SCHEDULES</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              First Schedule</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Second Schedule</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">
                                              THE NINETY-SIXTH</span></p>
                                              <p class="MsoNormal" style="text-align: center">
                                              <span style="font-size: 12.0pt; font-family: Times New Roman"><!--[if gte vml 1]><v:shapetype id="_x0000_t75"
 coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe"
 filled="f" stroked="f">
 <v:stroke joinstyle="miter"/>
 <v:formulas>
  <v:f eqn="if lineDrawn pixelLineWidth 0"/>
  <v:f eqn="sum @0 1 0"/>
  <v:f eqn="sum 0 0 @1"/>
  <v:f eqn="prod @2 1 2"/>
  <v:f eqn="prod @3 21600 pixelWidth"/>
  <v:f eqn="prod @3 21600 pixelHeight"/>
  <v:f eqn="sum @0 0 1"/>
  <v:f eqn="prod @6 1 2"/>
  <v:f eqn="prod @7 21600 pixelWidth"/>
  <v:f eqn="sum @8 21600 0"/>
  <v:f eqn="prod @7 21600 pixelHeight"/>
  <v:f eqn="sum @10 21600 0"/>
 </v:formulas>
 <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"/>
 <o:lock v:ext="edit" aspectratio="t"/>
</v:shapetype><v:shape id="_x0000_s1025" type="#_x0000_t75" alt="" style='width:78.75pt;
 height:66.75pt'>
 <v:imagedata src="" o:href="file:///C:\Documents%20and%20Settings\Administrator\Desktop\glf\all\ACTS%20&amp;%20LAW\1%20REP\coatofarms_small.jpg"/>
</v:shape><![endif]--></span></p>
                                              <p class="MsoNormal" style="text-align: center">
                                              <span style="font-family: Arial">
                                              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 VOLTA RIVER PROJECT 
                                              (SUPPLEMENTARY PROVISIONS) ACT, 
                                              1962</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              AN ACT to exempt certain 
                                              agreements relating to the Volta 
                                              River Project from the provisions 
                                              of sections 5 and 6 of the 
                                              Contracts Act, 1960 (Act 25) and 
                                              to provide for certain financial 
                                              matters connected with the 
                                              Project.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              DATE OF ASSENT: 20th January, 1962</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">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 1&#8212;Sections 5 and 6 of Act 
                                              25 not to Apply to Certain 
                                              Agreements.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The provisions of sections 5 and 6 
                                              of the Contracts Act, 1960 (Act 
                                              25) shall not apply to the 
                                              agreements specified in the First 
                                              Schedule hereto, except as 
                                              otherwise expressly provided 
                                              therein.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 2&#8212;Financial Agreements.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) In the name and on behalf of 
                                              the Republic, the President may in 
                                              writing so far as may seem to him 
                                              expedient in the public interest 
                                              to do so&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) enter into agreements 
                                              providing for the guarantee of any 
                                              obligations undertaken by the 
                                              Volta Aluminium Company Limited; 
                                              and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) enter into agreements 
                                              providing for loans by the 
                                              Government of Ghana to the Volta 
                                              Aluminium Company Limited, as 
                                              provided in Article 8 of the 
                                              Master Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Moneys payable under any 
                                              agreement referred to in 
                                              subsection (1) are hereby charged 
                                              on the Consolidated Fund.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 3&#8212;Validity of Certain 
                                              Agreements.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              No provision of any agreement 
                                              specified in the Second Schedule 
                                              hereto shall be illegal or void by 
                                              reason of any existing provision 
                                              or rule of the laws of Ghana other 
                                              than the Constitution. </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 4&#8212;Interpretation.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) In this Act, the &quot;Master 
                                              Agreement&quot; means the Master 
                                              Agreement entered into between the 
                                              Government of Ghana and the Volta 
                                              Aluminium Company Limited in the 
                                              terms approved by the National 
                                              Assembly in January, 1962.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Agreements specified in 
                                              the Schedules hereto shall have 
                                              the same meanings as in the Master 
                                              Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <i>
                                              <span style="font-family: Arial">
                                              FIRST SCHEDULE</span></i></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Master Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Power Contract.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Smelter Site Lease.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Water Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Port Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Currency Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Voting Trust Arrangements.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Subscription Agreement.</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: justify">
                                              <i>
                                              <span style="font-family: Arial">
                                              SECOND SCHEDULE</span></i></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">&nbsp;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Master Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Power Contract.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Smelter Site Lease.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Water Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Port Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Currency Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Voting Trust Arrangements.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Subscription Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Long Term Tolling Contracts.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Valco Current Accounts Trust.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Management and Technical 
                                              Assistance Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Exim-Valco Loan Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The IBRD. Loan Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The AID. Loan Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The Exim-Authority Loan Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              The U.K. Loan Agreement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Any guarantee of any of the 
                                              preceding Agreements specified in 
                                              this Schedule or of any part of 
                                              such Agreements by the Government 
                                              of Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Date of Gazette Notification: 18th 
                                              July, 1969.</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></td>
                </tr>
              </tbody>
            </table>
          </td>
        </tr>
        <tr>
          <td width="71" height="50" bgcolor="#003366">&nbsp;</td>
          <td width="782" height="50">
            <p align="center">
              </table>
            </td>
        </tr>
