
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              IN exercise of the powers 
                                              conferred on the Supreme Military 
                                              Council by section 26 of the 
                                              National Redemption Council 
                                              (Establishment) Proclamation, 1972 
                                              this Instrument is made this 11th 
                                              day of December, 1978.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 1—Establishment of 
                                              Committee of Inquiry.</span></p>
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                                              <span style="font-family: Arial">
                                              There is hereby established a 
                                              Committee to be known as the 
                                              “Committee of Inquiry (External 
                                              Loans). </span></p>
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                                              <span style="font-family: Arial">
                                              Section 2—Membership of Committee.</span></p>
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                                              <span style="font-family: Arial">
                                              The Committee shall consist of the 
                                              persons specified in the Schedule 
                                              to this Instrument.</span></p>
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                                              <span style="font-family: Arial">
                                              Section 3—Terms of Reference.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The terms of reference of the 
                                              Committee are as follows:&nbsp; </span>
                                              </p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) to investigate all external 
                                              loans contracted during the period 
                                              from 1st June, 1977 to 31st July, 
                                              1978 by the Ministry of Finance on 
                                              behalf of the Government under the 
                                              Loans Act, 1970 (Act 335) and 
                                              which were guaranteed by the Bank 
                                              of Ghana and in respect of which 
                                              promissory notes have been issued 
                                              to foreign individuals, 
                                              institutions and agencies;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) without&nbsp;&nbsp; prejudice to the 
                                              generality of subparagraph (a)—</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">(i) 
                                              to investigate whether all such 
                                              loans were contracted under the 
                                              Loans Act, 1970 (Act 335) and were 
                                              approved by the Public Agreements 
                                              (Review) Committee and the 
                                              Government,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (ii) to investigate whether the-re 
                                              has been any contractual default 
                                              on the part of the holders of such 
                                              promissory notes, and if so, to 
                                              advise the Government on how the 
                                              holders of such promissory notes 
                                              shall be prevented from 
                                              discounting them,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (iii) to investigate whether there 
                                              was any irregularity in the 
                                              acquisition of the loans in 
                                              question, and if so, to ascertain 
                                              the factors contributory to, and 
                                              those responsible for, such 
                                              irregularity, and to recommend 
                                              such steps as may be necessary to 
                                              prevent any future recurrence of 
                                              such irregularity.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) to investigate any other 
                                              matter which appears to the 
                                              Committee to be reasonably 
                                              connected to the fore- going; and</span></p>
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                                              <span style="font-family: Arial">
                                              (d) to report its findings to the 
                                              Supreme Military Council not later 
                                              than the 18th day of December, 
                                              1978 giving reasons for its 
                                              findings and making such 
                                              recommendations as may appear to 
                                              it necessary having regard to its 
                                              findings.</span></p>
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                                              <span style="font-family: Arial">
                                              Section 4—Staff of the Committee.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Supreme Military Council may 
                                              provide the services of such 
                                              officers as the Committee may 
                                              require for the discharge of its 
                                              functions.</span></p>
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                                              <span style="font-family: Arial">
                                              Section 5—Meetings of the 
                                              Committee.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Committee shall meet at 
                                              such times and at such places as 
                                              it may determine.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Committee may at any time 
                                              engage the services of any person 
                                              to attend any of its meetings as 
                                              an adviser.</span></p>
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                                              <span style="font-family: Arial">
                                              (3) Subject to the provisions of 
                                              this Instrument, the Committee 
                                              shall regulate its own procedure.</span></p>
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                                              <span style="font-family: Arial">
                                              Section 6—Summons to Attend and 
                                              Give Evidence.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Committee may by summons 
                                              issued under the hand of the 
                                              Chairman require any person—</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) to attend at such time and 
                                              place as is specified in the 
                                              summons to give evidence or to 
                                              produce any documents in his 
                                              possession or control which relate 
                                              to any matter specified in the 
                                              summons; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) to give the Committee any 
                                              information that may be specified 
                                              in the summons.</span></p>
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                                              <span style="font-family: Arial">
                                              (2) Any person summoned to appear 
                                              before the Committee under 
                                              subparagraph (1) of this paragraph 
                                              may be examined on oath and the 
                                              Committee may for that purpose 
                                              administer the oath.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 7—Offences.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Any person who—</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (a) refuses or wilfully neglects 
                                              to attend in obedience to a 
                                              summons issued under subparagraph 
                                              (1) of paragraph 6 of this 
                                              Instrument, or to give evidence as 
                                              required by the summons; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (b) wilfully alters, suppresses, 
                                              conceals, destroys or refuses to 
                                              produce any document which he is 
                                              required to produce by such 
                                              summons; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (c) refuses or wilfully neglects 
                                              to furnish any information 
                                              required of him by the summons,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              commits an offence and is liable 
                                              on summary conviction to a fine 
                                              not exceeding ¢1,000.00 or to 
                                              imprisonment not exceeding six 
                                              months or to both.</span></p>
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                                              <span style="font-family: Arial">
                                              Section 8—Police Officers to 
                                              Assist Committee.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Inspector-General of Police 
                                              shall detail Police Officers to 
                                              attend upon the Committee to 
                                              preserve order during proceedings 
                                              of the Committee, to serve 
                                              summonses on witnesses and to 
                                              perform any other function 
                                              relating to the work of the 
                                              Committee as the Committee may 
                                              direct.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              SCHEDULE</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              1. Justice A. N. E. Amissah&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              Chairman</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. Colonel G. L. Bayorbor&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              &nbsp;&nbsp; Member</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              3. Mr. E. P. L. Oyampoh&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              &nbsp; Member</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              4. Mr. N. T. 
                                              Clerk&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              &nbsp;Member</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              5. Mr. K. A. 
                                              Dugan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
                                              Member/Secretary.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              LT.-GENERAL F. W. K. AKUFFO</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Chairman of the Supreme Military 
                                              Council</span></p>