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                                              <b>
                                              <span style="font-family: Arial">
                                              EXCHANGE CONTROL ACT, 1961 (ACT 
                                              71)</span></b></p>
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                                              <span style="font-family: Arial">
                                              As amended by</span></p>
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                                              <span style="font-family: Arial">
                                              ARRANGEMENT OF SECTIONS</span></p>
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                                              <span style="font-family: Arial">
                                              Section</span></p>
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                                              <span style="font-family: Arial">
                                              PART I&#8212;GOLD AND EXTERNAL CURRENCY</span></p>
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                                              <span style="font-family: Arial">
                                              1.&nbsp; Dealings in gold and external 
                                              currency.</span></p>
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                                              <span style="font-family: Arial">
                                              1A.&nbsp; Unauthorised Payments in 
                                              External Currency.</span></p>
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                                              <span style="font-family: Arial">
                                              2.&nbsp; Duty to encash traveller's 
                                              cheques, etc.</span></p>
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                                              <span style="font-family: Arial">
                                              3.&nbsp; Surrender and custody of gold 
                                              and external currency.</span></p>
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                                              <span style="font-family: Arial">
                                              4.&nbsp; Duties of bailees of gold and 
                                              external currency.</span></p>
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                                              <span style="font-family: Arial">
                                              PART II&#8212;PAYMENTS</span></p>
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                                              <span style="font-family: Arial">
                                              &nbsp;5.&nbsp; Payments in Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              &nbsp;6.&nbsp; Payments outside Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              &nbsp;7.&nbsp; Compensation&nbsp; deals.</span></p>
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                                              <span style="font-family: Arial">
                                              PART III&#8212;IMPORT AND EXPORT</span></p>
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                                              <span style="font-family: Arial">
                                              &nbsp;8.&nbsp; Import restrictions.</span></p>
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                                              <span style="font-family: Arial">
                                              &nbsp;9.&nbsp; General restrictions on 
                                              exports.</span></p>
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                                              <span style="font-family: Arial">
                                              10.&nbsp; Payments for exports.</span></p>
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                                              <span style="font-family: Arial">
                                              PART IV&#8212;SECURITIES</span></p>
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                                              <span style="font-family: Arial">
                                              11.&nbsp; Authorised depositaries.</span></p>
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                                              <span style="font-family: Arial">
                                              12.&nbsp; Issue of securities.</span></p>
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                                              <span style="font-family: Arial">
                                              13.&nbsp; Transfer of securities and 
                                              coupons.</span></p>
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                                              <span style="font-family: Arial">
                                              14.&nbsp; Issue of bearer certificates 
                                              and coupons.</span></p>
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                                              <span style="font-family: Arial">
                                              15.&nbsp; Substitution of securities 
                                              and certificates outside Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              16.&nbsp; Payment of capital moneys 
                                              outside Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              17.&nbsp; Duties of persons keeping 
                                              registers.</span></p>
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                                              <span style="font-family: Arial">
                                              18.&nbsp; Additional provisions as to 
                                              nominee holdings.</span></p>
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                                              <span style="font-family: Arial">
                                              19.&nbsp; Deposit of certificates of 
                                              title.</span></p>
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                                              <span style="font-family: Arial">
                                              20.&nbsp; Additional provisions as to 
                                              deposited certificates.</span></p>
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                                              <span style="font-family: Arial">
                                              21.&nbsp; Validation of certain 
                                              transfers.</span></p>
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                                              <span style="font-family: Arial">
                                              22.&nbsp; Application to secondary 
                                              securities.</span></p>
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                                              <span style="font-family: Arial">
                                              23.&nbsp; Interpretation of Part IV.</span></p>
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                                              <span style="font-family: Arial">
                                              PART V&#8212;MISCELLANEOUS</span></p>
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                                              <span style="font-family: Arial">
                                              24. Duty to collect certain debts.</span></p>
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                                              <span style="font-family: Arial">
                                              25. Duty not to delay sale or 
                                              importation of goods.</span></p>
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                                              <span style="font-family: Arial">
                                              26. Property obtained by 
                                              infringement of Act.</span></p>
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                                              <span style="font-family: Arial">
                                              27. Provisions supplemental to 
                                              preceding provisions of Part V.</span></p>
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                                              <span style="font-family: Arial">
                                              28. Transfer of annuities, 
                                              policies, etc.</span></p>
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                                              <span style="font-family: Arial">
                                              29. Settlements.</span></p>
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                                              <span style="font-family: Arial">
                                              30. Companies.</span></p>
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                                              <span style="font-family: Arial">
                                              31. Special power to safeguard 
                                              economy of Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              PART VI&#8212;SUPPLEMENTAL</span></p>
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                                              <span style="font-family: Arial">
                                              32. Persons leaving Ghana.</span></p>
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                                              <span style="font-family: Arial">
                                              33. Evidence.</span></p>
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                                              <span style="font-family: Arial">
                                              34. Residence.</span></p>
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                                              <span style="font-family: Arial">
                                              35. Contracts, legal proceedings, 
                                              etc.</span></p>
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                                              <span style="font-family: Arial">
                                              36. Enforcement and 
                                              administration.</span></p>
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                                              <span style="font-family: Arial">
                                              37. Interpretation.</span></p>
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                                              <span style="font-family: Arial">
                                              38. Power to make regulations.</span></p>
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                                              <span style="font-family: Arial">
                                              39. Repeal.</span></p>
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                                              <span style="font-family: Arial">
                                              40. Act binds Republic.</span></p>
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                                              <span style="font-family: Arial">
                                              41. Commencement.</span></p>
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                                              <span style="font-family: Arial">
                                              SCHEDULES</span></p>
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                                              <span style="font-family: Arial">
                                              First Schedule&#8212;External Companies.</span></p>
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                                              <span style="font-family: Arial">
                                              Second Schedule&#8212;Blocked Accounts.</span></p>
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                                              <span style="font-family: Arial">
                                              Third Schedule&#8212;Legal proceedings, 
                                              etc.</span></p>
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                                              <span style="font-family: Arial">
                                              Fourth Schedule&#8212;Enforcement.</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">
                                              SEVENTY-FIRST</span></p>
                                              <p class="MsoNormal" style="text-align: center">< width="108" height="89"></p>
                                              <p class="MsoNormal" style="text-align: center">&nbsp;</p>
                                              <p class="MsoNormal" style="text-align: center">
                                              <span style="font-family: Arial">
                                              ACT OF THE PARLIAMENT OF THE 
                                              REPUBLIC OF GHANA ENTITLED</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              THE EXCHANGE CONTROL ACT, 1961</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              An ACT to confer powers, and 
                                              impose duties and restrictions, in 
                                              relation to gold, currency, 
                                              payments, securities and debts, 
                                              and the import, export, transfer 
                                              and settlement of property.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              DATE OF ASSENT: 1st August, 1961</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              BE IT ENACTED by the President and 
                                              the National Assembly in this 
                                              present Parliament assembled as 
                                              follows:&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212;GOLD AND EXTERNAL CURRENCY</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 1&#8212;Dealings in Gold and 
                                              External Currency.</span></b></p>
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                                              <span style="font-family: Arial">
                                              (1) The Minister responsible for 
                                              Finance (in this Act referred to 
                                              as &quot;the Minister&quot;) shall prescribe 
                                              such banks or other bodies or 
                                              persons as he thinks fit to be 
                                              authorised dealers in gold and 
                                              external currency for the purposes 
                                              of this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except in such circumstances 
                                              as may be prescribed, no Ghana 
                                              resident other than an authorised 
                                              dealer shall buy or borrow any 
                                              gold or external currency from, or 
                                              sell or lend any gold or external 
                                              currency to, any person other than 
                                              an authorised dealer.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where a Ghana resident buys or 
                                              borrows gold or external currency 
                                              he shall comply with such 
                                              requirements as to the use to 
                                              which it may be put or the period 
                                              for which it may be retained as 
                                              may be notified to him by the Bank 
                                              of Ghana before or at the time of 
                                              the purchase or borrowing or at 
                                              any subsequent time while he 
                                              retains the gold or currency.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) For the purposes of this 
                                              section a person issuing an 
                                              external currency draft, and the 
                                              person to whom it is issued, shall 
                                              be deemed respectively to sell and 
                                              buy external currency, and, where 
                                              external currency is obtained by 
                                              means of the draft, respectively 
                                              to sell and buy that external 
                                              currency.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              In this Act &quot;external currency 
                                              draft&quot; means any document (whether 
                                              expressed in terms of external 
                                              currency or Ghana currency) of a 
                                              kind intended&nbsp; to enable the 
                                              person to whom the document is 
                                              issued to obtain external currency 
                                              from some other person on the 
                                              credit of the person issuing it, 
                                              and in particular means a 
                                              traveller's cheque or other draft 
                                              or letter of credit so intended.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 1A&#8212;Unauthorised Payments 
                                              in External Currencies.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              For the avoidance of doubt, it is 
                                              hereby declared that unless 
                                              otherwise authorised by the 
                                              Secretary responsible for Finance 
                                              no Ghana resident shall receive in 
                                              Ghana any external currency as 
                                              payment for services rendered or 
                                              for the sale of goods or property 
                                              by him or as rent in respect of 
                                              any property owned by him. [As 
                                              inserted by Exchange Control 
                                              (Amendment) Law 1986, PNDCL 149 s 
                                              1(a)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 1B&#8212;Unauthorised Dealing in 
                                              Foreign Currency.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) For the avoidance of doubts, 
                                              it is hereby declared that section 
                                              1(2) of the Exchange Control Act, 
                                              1961 (Act 71) prohibits any person 
                                              resident in Ghana (other than an 
                                              authorised dealer) from buying 
                                              foreign currency from any visitor 
                                              to Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The penalties for a 
                                              contravention of section 1(2) of 
                                              the Exchange Control Act, 1961 
                                              (Act 71) are as specified in Part 
                                              II of the Fourth Schedule to that 
                                              Act. [Inserted and to be cited as 
                                              Exchange Control (Amendment) 
                                              Decree, 1973 (NRCD 220), s. 1].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 2&#8212;Duty to Encash 
                                              Traveller's Cheques, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except in such circumstances as 
                                              may be prescribed, every Ghana 
                                              resident, not being the Bank of 
                                              Ghana or an authorised dealer, who 
                                              holds or to whose order there is 
                                              held an external currency draft 
                                              expressed in terms of Ghana 
                                              currency shall be under a duty to 
                                              encash it, or cause it to be 
                                              encashed, in Ghana with the person 
                                              who issued it or with a banker.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 3&#8212;Surrender and Custody of 
                                              Gold and External Currency.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, every Ghana 
                                              resident, not being the Bank of 
                                              Ghana or an authorised dealer, 
                                              who&nbsp; (apart from restrictions 
                                              imposed by or under this Act) is 
                                              entitled to sell, or to procure 
                                              the sale of, any gold or any 
                                              external currency shall be under a 
                                              duty to offer the gold or 
                                              currency, or cause it to be 
                                              offered, for sale to an authorised 
                                              dealer.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where a person has become 
                                              bound under this section to offer 
                                              or cause to be offered any gold or 
                                              currency for sale to an authorised 
                                              dealer, he shall not be deemed to 
                                              comply with that obligation by any 
                                              offer made or caused to be made by 
                                              him, if the offer is an offer to 
                                              sell at a price exceeding that 
                                              authorised by the Bank of Ghana, 
                                              or without payment of any usual 
                                              and proper charges of the 
                                              authorised dealer, or otherwise on 
                                              any unusual terms.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where a person has become 
                                              bound under this section to offer 
                                              or cause to be offered any gold or 
                                              currency for sale to an authorised 
                                              dealer and has not complied with 
                                              that obligation, the Minister may 
                                              direct that that gold or currency 
                                              shall vest in the Minister, and it 
                                              shall vest accordingly free from 
                                              any mortgage, pledge or charge, 
                                              but the Minister shall pay to the 
                                              person who would but for the 
                                              direction be entitled to the gold 
                                              or currency such sum as he would 
                                              have received therefor if he had 
                                              sold it to an authorised dealer in 
                                              pursuance of an offer made under 
                                              this section at the time when the 
                                              vesting occurred.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) An external currency draft 
                                              shall be treated for the purposes 
                                              of this Act as itself being 
                                              external currency.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) In any proceedings in respect 
                                              of a failure to comply with the 
                                              provisions of this section, it 
                                              shall be presumed, until the 
                                              contrary is shown, that the gold 
                                              or currency in question has not 
                                              been offered for sale to an 
                                              authorised dealer.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) The Bank of Ghana may direct a 
                                              person such as is mentioned in 
                                              subsection (1) of this section 
                                              (whether or not he is subject to 
                                              the duty thereby imposed) to cause 
                                              the gold or currency in question, 
                                              being gold held in Ghana or 
                                              currency in the form of notes or 
                                              an external currency draft held in 
                                              Ghana, to be kept in the custody 
                                              of such banker as is specified in 
                                              the direction.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 4&#8212;Duties of Bailees of 
                                              Gold and External Currency.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, every Ghana 
                                              resident by whom or to whose order 
                                              (whether directly or indirectly) 
                                              and gold or any external currency 
                                              in the form of notes or an 
                                              external currency draft is held in 
                                              Ghana, but who is not (even apart 
                                              from restrictions imposed by or 
                                              under this Act) entitled to sell 
                                              it or procure its sale, shall be 
                                              under a duty to notify the Bank of 
                                              Ghana in writing that he so holds 
                                              it.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The Bank of Ghana may direct a 
                                              person such as is mentioned in the 
                                              preceding subsection (whether or 
                                              not he is subject to the duty 
                                              thereby imposed) to cause the gold 
                                              or currency&nbsp; in question to be 
                                              kept in the custody of such banker 
                                              as is specified in the direction.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART II&#8212;PAYMENTS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 5&#8212;Payments in External 
                                              Currencies.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, no person or 
                                              individual shall do any of the 
                                              following in Ghana&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) make a payment to, or for the 
                                              credit of, an external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) make a payment to, or for the 
                                              credit of, a Ghana resident where 
                                              the payment is by order or on 
                                              behalf of an external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) place any sum to the credit of 
                                              an external resident:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that where an external 
                                              resident has paid a sum in or 
                                              towards the satisfaction of a debt 
                                              due from&nbsp; him, paragraph (c) of 
                                              this subsection shall not prevent 
                                              the acknowledgement or recording 
                                              of the payment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except in circumstances as may 
                                              be prescribed, no person or 
                                              individual shall make a payment in 
                                              external currency to or for the 
                                              credit of a Ghana resident for 
                                              services rendered by him or for 
                                              the purchase of or in exchange for 
                                              goods or property, or for the 
                                              settlement of rent in respect of 
                                              any property, owned by such Ghana 
                                              resident. [As Substituted by 
                                              Exchange Control (Amendment) Law, 
                                              1986, PNDCL 149 s 1(b)].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except in such circumstances as 
                                              may be prescribed, no person shall 
                                              do any of the following in Ghana&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) make a payment to, or for the 
                                              credit of, an external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) make a payment to, or for the 
                                              credit of, a Ghana resident where 
                                              the payment is by order or on 
                                              behalf of an external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) place any sum to the credit of 
                                              an external resident:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that where an external 
                                              resident has paid a sum in or 
                                              towards the satisfaction of a debt 
                                              due from him, paragraph (c) of 
                                              this section shall not prevent the 
                                              acknowledgement or recording of 
                                              the payment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 6&#8212;Payments Outside Ghana.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except in such circumstances as 
                                              may be prescribed, no Ghana 
                                              resident shall make any payment 
                                              outside Ghana to or for the credit 
                                              of an external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 7&#8212;Compensation Deals.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except in such circumstances as 
                                              may be prescribed, no person shall 
                                              in Ghana, and no Ghana resident 
                                              shall outside Ghana, make any 
                                              payment to or for the credit of a 
                                              Ghana resident as consideration 
                                              for or in association with&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the receipt by any person of a 
                                              payment made outside Ghana, or the 
                                              acquisition by any person of 
                                              property which is outside Ghana, 
                                              or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the transfer to any person, or 
                                              the creation in favour of any 
                                              person, of a right (whether 
                                              present or future, and whether 
                                              vested or contingent) to receive a 
                                              payment outside Ghana or to 
                                              acquire property which is outside 
                                              Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART III&#8212;IMPORT AND EXPORT</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 8&#8212;Import Restrictions.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, no person 
                                              shall import any of the following&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) gold;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) a certificate of title to a 
                                              security, including any such 
                                              certificate which has been 
                                              cancelled;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) a document certifying the 
                                              destruction, loss or cancellation 
                                              of a certificate of title to a 
                                              security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Regulations may prohibit or 
                                              restrict the import of currency 
                                              notes of such description as is 
                                              specified in the regulations.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 9&#8212;General Restrictions on 
                                              Exports.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, no person 
                                              shall export any of the following&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) currency notes;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) postal orders;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) gold;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) a document of any of the 
                                              following descriptions, including 
                                              any such document which has been 
                                              cancelled and any document 
                                              certifying the destruction, loss 
                                              or cancellation of any such 
                                              document&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Regulations may prohibit or 
                                              restrict the export of further 
                                              articles if carried on the person 
                                              of a traveller or in his baggage.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 10&#8212;Payments for Exports.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except in such circumstances 
                                              as may be prescribed, no person 
                                              shall export goods of any 
                                              description unless&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) payment for the goods has been 
                                              made in the prescribed manner to a 
                                              Ghana resident, or is to be so 
                                              made not later than six months 
                                              after the date of exportation; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the amount of the payment that 
                                              has been made or is to be made is 
                                              such as to represent a return for 
                                              the goods which is in all the 
                                              circumstances satisfactory in the 
                                              interest of Ghana:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that the Minister may 
                                              direct that, in cases to which the 
                                              direction applies, paragraph (a) 
                                              of this subsection shall have 
                                              effect as if for the reference to 
                                              six months there were substituted 
                                              a reference to such shorter period 
                                              as may be specified in the 
                                              direction, or as if the words &quot;or 
                                              is to be so made not later than 
                                              six months after the date of 
                                              exportation&quot; were omitted.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where the preceding subsection 
                                              applies, the Comptroller of 
                                              Customs may require the person 
                                              making entry of any goods for 
                                              export to deliver to the collector 
                                              or other proper officer together 
                                              with the entry such declarations 
                                              as to the matters specified in 
                                              that subsection as the Comptroller 
                                              may require, and where any such 
                                              declaration has been so required 
                                              the goods shall not be exported 
                                              until it has been delivered as 
                                              aforesaid.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where the Comptroller of 
                                              Customs is not satisfied in the 
                                              case of any goods as to the 
                                              matters specified in paragraph (b) 
                                              of subsection (1) of this section, 
                                              he shall give his reasons to the 
                                              person making entry of the goods 
                                              for export and shall take into 
                                              consideration any representations 
                                              made by him.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART IV&#8212;SECURITIES</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 11&#8212;Authorised 
                                              Depositaries.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Minister shall prescribe such 
                                              banks or other bodies or persons 
                                              as he thinks fit to be authorised 
                                              depositaries of securities for the 
                                              purposes of this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 12&#8212;Issue of Securities.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Minister, no person shall in Ghana 
                                              issue any security or, whether in 
                                              Ghana or elsewhere, issue any 
                                              security which is registered or to 
                                              be registered in Ghana, unless 
                                              that person is satisfied by means 
                                              of a declaration in writing signed 
                                              by or on behalf of the person to 
                                              whom the security is to be issued 
                                              that the latter person is not an 
                                              external resident and is not 
                                              acquiring the security as the 
                                              nominee of an external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The subscription by, or by a 
                                              nominee for, an external resident 
                                              of the memorandum of association 
                                              of a company to be formed under 
                                              the Companies Ordinance (Cap. 193) 
                                              shall, unless he subscribes the 
                                              memorandum with the permission of 
                                              the Bank of Ghana, be invalid in 
                                              so far as it would on registration 
                                              of the memorandum have the effect 
                                              of making him a member of or 
                                              shareholder in the company:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this provision shall 
                                              not render invalid the 
                                              incorporation of the company, but 
                                              if by virtue of this subsection 
                                              the number of the subscribers of 
                                              the memorandum who on its 
                                              registration become members of the 
                                              company is less than the minimum 
                                              number required to subscribe the 
                                              memorandum, the provisions of the 
                                              said Ordinance relating to the 
                                              carrying on of business of a 
                                              company the number of whose 
                                              members is reduced below the legal 
                                              minimum shall nevertheless apply.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 13&#8212;Transfer of Securities 
                                              and Coupons.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Bank of Ghana, a security 
                                              registered in Ghana shall not be 
                                              transferred, and a security not so 
                                              registered shall not be 
                                              transferred in Ghana, if either 
                                              the transferor or the transferee, 
                                              or any person for whom either of 
                                              them is or is to be a nominee, is 
                                              an external resident:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that no person shall be 
                                              deemed to have committed an 
                                              offence by reason only that the 
                                              requirements of this subsection 
                                              were not fulfilled unless he knew 
                                              or had reason to believe that 
                                              those requirements were not 
                                              fulfilled.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except with the consent of the 
                                              Bank of Ghana, a security not 
                                              registered in Ghana shall not be 
                                              transferred outside Ghana if the 
                                              transferor or the transferee, or 
                                              any person for whom either of them 
                                              is or is to be a nominee, is a 
                                              Ghana resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Except with the consent of the 
                                              Bank of Ghana, no coupon shall be 
                                              transferred&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) in Ghana, if the transferee or 
                                              the person, if any, for whom he is 
                                              to be a nominee is an external 
                                              resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) outside Ghana, if the 
                                              transferor or the transferee, or 
                                              any person for whom either of them 
                                              is or is to be a nominee, is a 
                                              Ghana resident. </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 14&#8212;Issue of Bearer 
                                              Certificates and Coupons.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except with the consent of the 
                                              Bank of Ghana, no person shall, in 
                                              Ghana, and no Ghana resident 
                                              shall, outside Ghana, issue any 
                                              bearer certificate or coupon or so 
                                              alter any document that it becomes 
                                              a bearer certificate or coupon.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 15&#8212;Substitution of 
                                              Securities and Certificates 
                                              Outside Ghana.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except with the consent of the 
                                              Bank of Ghana, no person shall, in 
                                              Ghana, and no Ghana resident 
                                              shall, outside Ghana, do any act 
                                              with intent to secure&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) that a security which is&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">(i) 
                                              registered in Ghana; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (ii) transferable by means of a 
                                              bearer certificate in Ghana,</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              becomes, or is replaced by, a 
                                              security registered outside Ghana 
                                              or a security transferable by 
                                              means of a bearer certificate 
                                              outside Ghana; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) that a certificate of title to 
                                              any other security is issued&nbsp; 
                                              outside Ghana in substitution for 
                                              or in addition to a certificate of 
                                              title thereto which is in, or is 
                                              or has been lost or destroyed in, 
                                              Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 16&#8212;Payment of Capital 
                                              Moneys Outside Ghana.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Except with the consent of the 
                                              Bank of Ghana, no Ghana resident 
                                              shall do any act with intent to 
                                              secure that capital moneys payable 
                                              on a security registered in Ghana 
                                              are paid outside Ghana, or that, 
                                              where the certificate of title to 
                                              a security is in Ghana, capital 
                                              moneys payable on the security are 
                                              paid outside Ghana without 
                                              production of the certificate to 
                                              the person making the payment.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 17&#8212;Duties of Persons 
                                              Keeping Registers.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Bank of Ghana, no person concerned 
                                              with the keeping of any register 
                                              in Ghana shall&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) enter in the register the name 
                                              of any person in relation to any 
                                              security unless there has been 
                                              produced to him evidence in 
                                              accordance with the following 
                                              subsection that the entry does not 
                                              form part of a transaction which 
                                              involves the doing of anything 
                                              prohibited by this Act; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) enter in the register, in 
                                              respect of any security, an 
                                              address outside Ghana, except for 
                                              the purpose of any transaction for 
                                              which the consent of the Bank of 
                                              Ghana has been granted with the 
                                              knowledge that it involved the 
                                              entry of that address; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) do any act in relation to the 
                                              register which recognises or gives 
                                              effect to any act appearing to him 
                                              to have been done with such intent 
                                              as is mentioned in the two last 
                                              preceding sections, whether done 
                                              by a person in or resident in 
                                              Ghana or not.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The evidence required for the 
                                              purposes of paragraph (a) of the 
                                              preceding subsection&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) in the case of the issue of 
                                              securities, is a declaration in 
                                              writing, signed by or on behalf of 
                                              the person to whom the security is 
                                              to be issued, that the person to 
                                              whom the security is to be issued 
                                              is not an external resident and is 
                                              not acquiring the security as the 
                                              nominee of an external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) in the case of the transfer of 
                                              securities, is a&nbsp; declaration in 
                                              writing, signed by an authorised 
                                              depositary, that the holder of the 
                                              security is not an external 
                                              resident and is not holding the 
                                              security as the nominee of an 
                                              external resident, together with a 
                                              declaration in writing, signed by 
                                              an authorised depositary, that the 
                                              transferee is not an external 
                                              resident and is not acquiring the 
                                              security as the nominee of an 
                                              external resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) in the case of the 
                                              registration of securities 
                                              transferable by means of bearer 
                                              certificates, is a declaration in 
                                              writing, signed by an authorised 
                                              depositary, that the person to 
                                              whom the security is to be issued 
                                              is not an external resident and is 
                                              not acquiring the security as the 
                                              nominee of an external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 18&#8212;Additional Provisions 
                                              as to Nominee Holdings.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the holder of a security is a 
                                              nominee and the person for whom he 
                                              is a nominee is an external 
                                              resident; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the holder of a security is 
                                              not a nominee but is an external 
                                              resident,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              then, except with the consent of 
                                              the Bank of Ghana, no Ghana 
                                              resident shall do any act whereby 
                                              the holder becomes his nominee in 
                                              respect of the security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except with the consent of the 
                                              Bank of Ghana, a Ghana resident 
                                              for whom the holder of a security 
                                              is a nominee shall not do any act 
                                              whereby&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the holder, being an external 
                                              resident, holds the security 
                                              otherwise than as his nominee; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the holder, not being an 
                                              external resident, holds the 
                                              security as nominee for an 
                                              external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where the holder of a security 
                                              is a nominee, then, except with 
                                              the consent of the Bank of Ghana, 
                                              neither he, if he is a Ghana 
                                              resident, nor any Ghana resident 
                                              through whose agency the exercise 
                                              of all or any of the holder's 
                                              rights in respect of the security 
                                              are controlled, shall&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) do any act whereby he 
                                              recognises or gives effect to the 
                                              substitution of another person as 
                                              the person from whom he directly 
                                              receives his instructions unless 
                                              both the person previously 
                                              instructing him and the person 
                                              substituted for that person were, 
                                              immediately before the 
                                              substitution, resident in Ghana 
                                              and not elsewhere; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) do any act whereby he ceases 
                                              to be a person bound to give 
                                              effect to the instructions of 
                                              another person in relation to the 
                                              security, unless the person who 
                                              theretofore instructed him is 
                                              resident in Ghana and not 
                                              elsewhere.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Where the holder of a security 
                                              is not a nominee and is a Ghana 
                                              resident, then, except with the 
                                              consent of the Bank of Ghana, he 
                                              shall not do any act whereby he 
                                              becomes the nominee of another 
                                              person in respect of the security, 
                                              unless that other person is 
                                              resident in Ghana and not 
                                              elsewhere.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 19&#8212;Deposit of Certificates 
                                              of Title.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) This and the next following 
                                              section apply to any security 
                                              except&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) a security which is registered 
                                              in Ghana otherwise than in a 
                                              subsidiary register, and on which 
                                              none of the dividends or interest 
                                              is payable on presentment of a 
                                              coupon; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) any such other security as may 
                                              be prescribed,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              and in the following provisions of 
                                              this section and in the next 
                                              following section the expressions 
                                              &quot;security&quot;, &quot;certificate of title&quot; 
                                              and &quot;coupon&quot; mean respectively a 
                                              security to which the said 
                                              sections apply, a certificate of 
                                              title to such a security, and a 
                                              coupon representing dividends or 
                                              interest on such a security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) It shall be the duty of every 
                                              person by whom or to whose order 
                                              (whether directly or indirectly) a 
                                              certificate of title is held in 
                                              Ghana, and of every Ghana resident 
                                              by whom or to whose order (whether 
                                              directly or indirectly) a 
                                              certificate of title is held 
                                              outside Ghana, to cause the 
                                              certificate of title to be kept at 
                                              all times, except with the consent 
                                              of the Bank of Ghana, in the 
                                              custody of an authorised 
                                              depositary, and nothing in this 
                                              Part of this Act shall prohibit 
                                              the doing of anything for the 
                                              purpose of complying with the 
                                              requirements of this subsection.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Except with the consent of the 
                                              Bank of Ghana, an authorised 
                                              depositary shall not part with any 
                                              certificate of title or coupon 
                                              required under this section to be 
                                              in the custody of an authorised 
                                              depositary:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this subsection 
                                              shall not prohibit an authorised 
                                              depositary&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) from parting with a 
                                              certificate of title or coupon to 
                                              or to the order of another 
                                              authorised depositary, where the 
                                              person from whom the other 
                                              authorised depositary is to 
                                              receive instructions in relation 
                                              thereto is to be the same as the 
                                              person from whom he receives 
                                              instructions;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) from parting with a 
                                              certificate of title, for the 
                                              purpose of obtaining payment of 
                                              capital moneys payable on the 
                                              security, to the person entrusted 
                                              with payment thereof;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) from parting with a coupon in 
                                              the ordinary course for 
                                              collection.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Except with the consent of the 
                                              Bank of Ghana, no capital moneys, 
                                              interest or dividends shall be 
                                              paid in Ghana on any security 
                                              except to or to the order of an 
                                              authorised depositary having the 
                                              custody of the certificate of 
                                              title to that security, so, 
                                              however, that this subsection 
                                              shall not be taken as restricting 
                                              the manner in which any sums 
                                              lawfully paid on account of the 
                                              capital moneys, interest or 
                                              dividends may be dealt with by the 
                                              person receiving them.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Except with the consent of the 
                                              Bank of Ghana, an authorised 
                                              depositary shall not do any act 
                                              whereby he recognises or gives 
                                              effect to the substitution of one 
                                              person for another as the person 
                                              from whom he receives instructions 
                                              in relation to a certificate of 
                                              title or coupon, unless he is 
                                              satisfied that neither person is, 
                                              or is the nominee of, an external 
                                              resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) Where a certificate of title 
                                              which under this section should 
                                              for the time being be in the 
                                              custody of an authorised 
                                              depositary is not in the custody 
                                              of an authorised depositary, then, 
                                              except with the consent of the 
                                              Bank of Ghana, no person shall in 
                                              Ghana, and no Ghana resident shall 
                                              outside Ghana, buy, sell, 
                                              transfer, or do anything which 
                                              affects his rights or powers in 
                                              relation to, the security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (7) Except with the consent of the 
                                              Bank of Ghana, no person shall in 
                                              Ghana, and no Ghana resident shall 
                                              outside Ghana, detach any coupons 
                                              from a certificate of title with 
                                              coupons (whether attached or on 
                                              separate coupon sheets), otherwise 
                                              than in the ordinary course for 
                                              collection.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 20&#8212;Additional Provisions 
                                              as to Deposited Certificates.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where a certificate of title 
                                              to a security is by the preceding 
                                              section required to be and is in 
                                              the custody of an authorised 
                                              depositary, the provisions of this 
                                              section shall, except so far as 
                                              the Bank of Ghana otherwise 
                                              directs, have effect in relation 
                                              thereto unless&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the authorised depositary is 
                                              satisfied that the security is 
                                              owned by a Ghana resident; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) in the case of a certificate 
                                              of title which&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">(i) 
                                              would ordinarily be accompanied by 
                                              coupons (whether attached or on 
                                              separate coupon sheets); but</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (ii) when it comes into the 
                                              custody of the authorised 
                                              depositary wants, in order to 
                                              render it complete, any coupons 
                                              which would not in the ordinary 
                                              course have been detached for 
                                              collection,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              there have also been deposited 
                                              with him the coupons so wanting at 
                                              the time when the certificate of 
                                              title comes into his custody.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except with the consent of the 
                                              Bank of Ghana, the authorised 
                                              depositary shall not part with or 
                                              destroy the certificate of title 
                                              or any coupons belonging thereto, 
                                              otherwise than as mentioned in 
                                              paragraphs (b) and (c) of the 
                                              proviso to subsection (3) of 
                                              section 19 of this Act, or do any 
                                              act whereby he recognises or gives 
                                              effect to the substitution of one 
                                              person for another as the person 
                                              from whom he receives instructions 
                                              in relation thereto:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that, where the person 
                                              from whom an authorised depositary 
                                              receives instructions in relation 
                                              to any certificate of title dies 
                                              or becomes subject to the Ghana 
                                              law of insolvency, this subsection 
                                              shall not prohibit the authorised 
                                              depositary from recognising the 
                                              person charged with administering 
                                              his assets as the person entitled 
                                              to give instructions in relation 
                                              to the certificate of title.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The authorised depositary 
                                              shall place any capital moneys, 
                                              dividends or interest on the 
                                              security received by him to the 
                                              credit of the person by virtue of 
                                              whose authority he received them, 
                                              but shall not permit any part of 
                                              the sums received to be dealt with 
                                              except with the consent of the 
                                              Bank of Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 21&#8212;Validation of Certain 
                                              Transfers.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The title of any person to a 
                                              security for which he has given 
                                              value on a transfer thereof, and 
                                              the title of all persons claiming 
                                              through or under him, shall, 
                                              notwithstanding that the transfer, 
                                              or any previous transfer, or the 
                                              issue of the security, was by 
                                              reason of the residence of any 
                                              person concerned other than the 
                                              first-mentioned person prohibited 
                                              by the provisions of this Act 
                                              relating to the transfer or issue 
                                              of securities, be valid unless the 
                                              first-mentioned person had notice 
                                              of the facts by reason of which it 
                                              was prohibited.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              provisions of subsection (1) of 
                                              this section, the Bank of Ghana 
                                              may issue a certificate declaring, 
                                              in relation to a security, that 
                                              any acts done before the issue of 
                                              the certificate purporting to 
                                              effect the issue or transfer of 
                                              the security, being acts which 
                                              were prohibited by this Act, are 
                                              to be, and are always to have 
                                              been, as valid as if they had been 
                                              done with the consent of the 
                                              competent authority, and the said 
                                              acts shall have effect 
                                              accordingly.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Nothing in this section shall 
                                              affect the liability of any person 
                                              to prosecution for any offence 
                                              against this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 22&#8212;Application to 
                                              Secondary Securities.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) This Part of this Act shall 
                                              apply, with such modifications (if 
                                              any) as may be prescribed, in 
                                              relation to any such document as 
                                              is mentioned in the following 
                                              subsection, as if the document 
                                              created, and were the certificate 
                                              of title to, a security (hereafter 
                                              in this Act referred to as a 
                                              &quot;secondary security&quot;).</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The documents referred to in 
                                              the preceding subsection are any 
                                              letter of allotment which may be 
                                              renounced, any letter of rights, 
                                              any warrant conferring an option 
                                              to acquire a security, any deposit 
                                              certificate in respect of 
                                              securities (but not including a 
                                              receipt by an authorised 
                                              depositary for any certificate of 
                                              title deposited in pursuance of 
                                              this Part of this Act), and such 
                                              other documents conferring, or 
                                              containing evidence of, rights as 
                                              may be prescribed.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 23&#8212;Interpretation of Part 
                                              IV.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) In this Part of this Act&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;register&quot; includes any book, file 
                                              or index in which securities are 
                                              registered;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;registered&quot; includes inscribed;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;registered in Ghana&quot; and 
                                              &quot;registered outside Ghana&quot; mean 
                                              respectively, registered in a 
                                              register in, and registered in a 
                                              register outside, Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;security which is registered in 
                                              Ghana otherwise than in a 
                                              subsidiary register&quot; means a 
                                              security which either&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) is registered in Ghana and is 
                                              not, and cannot without the 
                                              necessity for an entry in the 
                                              register in Ghana become, 
                                              registered outside, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b)&nbsp; is registered both in Ghana 
                                              and outside but on a transfer 
                                              cannot, without the necessity for 
                                              an entry in the register in Ghana, 
                                              become registered outside in the 
                                              name of the transferee.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) For the purposes of any 
                                              provision of this Part of this Act 
                                              prohibiting the transfer of 
                                              securities, a person shall be 
                                              deemed to transfer a security if 
                                              he executes any instrument of 
                                              transfer thereof, whether 
                                              effective or not, and shall be 
                                              deemed to transfer it at the place 
                                              where he executes the instrument.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) References in this Part of 
                                              this Act to the person holding a 
                                              certificate of title or coupon 
                                              shall be construed as references 
                                              to the person having physical 
                                              custody of the certificate of 
                                              title or coupon:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that where the 
                                              certificate of title or coupon is 
                                              deposited with any person in a 
                                              locked or sealed receptacle from 
                                              which he is not entitled to remove 
                                              it without the authority of some 
                                              other person, that other person 
                                              shall be deemed for the purposes 
                                              of this provision to have the 
                                              physical custody thereof.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) In this Part of this Act, 
                                              &quot;holder&quot;&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) in relation to a security 
                                              transferable by means of a bearer 
                                              certificate or to a coupon, 
                                              includes the person holding the 
                                              certificate or coupon; and&nbsp;&nbsp;&nbsp;
                                              </span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) in relation to a security 
                                              which is registered in the name of 
                                              a deceased person, or of any 
                                              person who, by reason of 
                                              insolvency, unsoundness of mind or 
                                              any other disability is incapable 
                                              of transferring the security, 
                                              means the personal representative 
                                              or other person entitled to 
                                              transfer the security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The holder of a security or 
                                              coupon shall be deemed for the 
                                              purposes of this Part of this Act 
                                              to be a nominee in respect thereof 
                                              if, as respects the exercise of 
                                              any rights in respect thereof, he 
                                              is not entitled to exercise those 
                                              rights except in accordance with 
                                              instructions given by some other 
                                              person, and references in this 
                                              Part of this Act to the person for 
                                              whom the holder of a security or 
                                              coupon is a nominee shall be 
                                              construed as references to the 
                                              person who is entitled to give 
                                              instructions, either directly or 
                                              through the agency of one or more 
                                              persons, as to the exercise of any 
                                              rights in respect of the security 
                                              or coupon and is not in so doing 
                                              himself under a duty to comply 
                                              with instructions given by some 
                                              other person:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (a) a person shall not by reason 
                                              only that he has a controlling 
                                              interest in a body corporate be 
                                              deemed for the purposes of this 
                                              subsection to be entitled to give 
                                              instructions to that body 
                                              corporate as to the exercise of 
                                              rights in respect of any security 
                                              or coupon of which it is the 
                                              holder; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (b) a person shall not be deemed 
                                              to hold a security or coupon as a 
                                              nominee by reason only that he 
                                              holds it as trustee if he is 
                                              entitled to transfer the security 
                                              or coupon without permission from 
                                              any other person.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) A certificate of title shall 
                                              not for the purposes of this Part 
                                              of this Act be treated as in the 
                                              custody of an authorised 
                                              depositary if either&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the depositary has no notice 
                                              of the nature of the certificate; 
                                              or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the certificate is deposited 
                                              with him in a locked or sealed 
                                              receptacle from which he is not 
                                              entitled to remove it without the 
                                              authority of some other person.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (7) Where a certificate of title 
                                              outside Ghana is by this Part of 
                                              this Act required to be kept in 
                                              the custody of an authorised 
                                              depositary, it shall be deemed to 
                                              be in the custody of an authorised 
                                              depositary if&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) by his direction or with his 
                                              assent it is in the custody of 
                                              some other person who holds it on 
                                              behalf of and to the order of the 
                                              authorised depositary; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the certificate is not 
                                              deposited with that other person 
                                              in a locked or sealed receptacle 
                                              from which he is not entitled to 
                                              remove it without the authority of 
                                              a person other than himself;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              and where a certificate of title 
                                              is by virtue of this subsection 
                                              deemed to be in the custody of an 
                                              authorised depositary, references 
                                              in this Part of this Act to the 
                                              depositary parting with the 
                                              certificate or a coupon belonging 
                                              thereto shall be construed as 
                                              references to his permitting the 
                                              person having the actual custody 
                                              thereof to part with it otherwise 
                                              than to the depositary, and 
                                              references to his destroying the 
                                              certificate or such a coupon shall 
                                              be construed as references to his 
                                              permitting it to be destroyed.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART V&#8212;MISCELLANEOUS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 24&#8212;Duty to Collect Certain 
                                              Debts.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Bank of Ghana, no Ghana resident 
                                              who has a right (whether present 
                                              or future and whether vested or 
                                              contingent) to receive any 
                                              external currency, or to receive 
                                              from an external resident a 
                                              payment in Ghana currency, shall 
                                              do any act with intent to secure&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) that the receipt by him of the 
                                              whole or part of that currency is 
                                              delayed; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) that the currency ceases, in 
                                              whole or in part, to be receivable 
                                              by him:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that nothing in this 
                                              subsection&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              shall, unless the Bank of Ghana 
                                              otherwise directs, impose on any 
                                              person an obligation, in relation 
                                              to a debt arising in the carrying 
                                              on of any trade or business, to 
                                              procure the payment thereof at an 
                                              earlier time than is customary in 
                                              the course of that trade or 
                                              business; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) shall, unless the Bank of 
                                              Ghana otherwise directs, prohibit 
                                              any transfer to a person resident 
                                              in Ghana and not elsewhere of any 
                                              right to receive external or Ghana 
                                              currency.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where a person has contravened 
                                              the provisions of subsection (1) 
                                              of this section in relation to any 
                                              currency, the Minister may give to 
                                              him or to any other person who 
                                              appears to the Minister to be in a 
                                              position to give effect thereto 
                                              (being a person in or resident in 
                                              Ghana) such directions as appear 
                                              to the Minister to be expedient 
                                              for the purpose of obtaining or 
                                              expediting the receipt of the 
                                              currency in question, and, without 
                                              prejudice to the generality of the 
                                              preceding provisions of this 
                                              subsection, may direct that there 
                                              shall be assigned to the Minister, 
                                              or to such person as may be 
                                              specified in the directions, the 
                                              right to receive the currency or 
                                              enforce any security for the 
                                              receipt thereof.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 25&#8212;Duty not to Delay Sale 
                                              or Importation of Goods.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) any consent has been granted 
                                              under this Act subject to a 
                                              condition providing that, or on 
                                              the faith of an application 
                                              stating an intention that, any 
                                              goods should be sold outside 
                                              Ghana; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) any statement or declaration 
                                              has been made under this Act that 
                                              any goods are to be sold outside 
                                              Ghana; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) any currency has been obtained 
                                              in Ghana, or by any Ghana 
                                              resident, on the faith of an 
                                              application stating an intention 
                                              that any goods should be sold 
                                              outside Ghana,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              then, except with the consent of 
                                              the Bank of Ghana, no Ghana 
                                              resident who is entitled to sell 
                                              or procure the sale of the said 
                                              goods shall do any act with intent 
                                              to secure&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              that the said sale is delayed to 
                                              an extent which is unreasonable 
                                              having regard to the ordinary 
                                              course of trade; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) that, on the said sale, any 
                                              payment made for the goods is not 
                                              made in the manner indicated by 
                                              the condition, statement, or 
                                              declaration, as the case may be.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) any consent has been granted 
                                              under this Act, subject to a 
                                              condition providing that, or on 
                                              the faith of an application 
                                              stating an intention that, any 
                                              goods should be imported; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) any currency has been obtained 
                                              in Ghana, or by any Ghana 
                                              resident, on the faith of an 
                                              application stating an intention 
                                              that any goods should be imported,</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              then, except with the consent of 
                                              the Bank of Ghana, no Ghana 
                                              resident who is entitled to 
                                              procure the importation of the 
                                              said goods shall do any act with 
                                              intent to secure that the 
                                              importation thereof is delayed to 
                                              an extent which is unreasonable 
                                              having regard to the ordinary 
                                              course of trade.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where in any such case as is 
                                              specified in paragraph (a), (b) or 
                                              (c) of subsection (1), or 
                                              paragraph (a) or (b) of subsection 
                                              (2), of this section&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the goods have not been sold 
                                              or imported as indicated by the 
                                              condition, statement or 
                                              declaration within the time 
                                              thereby indicated or, if no time 
                                              is thereby indicated, a reasonable 
                                              time, or (in either case) within 
                                              such further time as may be 
                                              allowed by the Minister; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) it appears to the Minister 
                                              that the goods cannot be sold or 
                                              imported as indicated by the 
                                              condition, statement or 
                                              declaration,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Minister may give to any Ghana 
                                              resident who appears to the 
                                              Minister to be in a position to 
                                              give effect thereto such 
                                              directions as appear to the 
                                              Minister to be expedient as to the 
                                              manner in which the goods are to 
                                              be dealt with.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Without prejudice to the 
                                              generality of the provisions of 
                                              the last preceding subsection, the 
                                              power conferred thereby on the 
                                              Minister to give directions shall 
                                              extend to the giving of directions 
                                              that the goods shall be assigned 
                                              to the Minister or to a person 
                                              specified in the directions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) The powers conferred by the 
                                              two last preceding subsections in 
                                              relation to any goods shall extend 
                                              to the giving of directions with 
                                              respect to any goods produced or 
                                              manufactured therefrom, and, where 
                                              goods to be sold outside Ghana or 
                                              to be imported were to be produced 
                                              or manufactured from other goods, 
                                              to the giving of directions with 
                                              respect to those other goods and 
                                              any goods produced or manufactured 
                                              from those other goods.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 26&#8212;Property Obtained by 
                                              Infringement of Act.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where a person&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) has made any payment which is 
                                              prohibited by this Act; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) being bound under this Act to 
                                              offer or cause to be offered any 
                                              gold or currency to an authorised 
                                              dealer, has otherwise disposed of 
                                              that gold or currency,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              the Minister may direct him to 
                                              sell or procure the sale of any 
                                              property which he is entitled to 
                                              sell or of which he is entitled to 
                                              procure the sale, being property 
                                              which represents, whether directly 
                                              or indirectly, that payment or 
                                              that gold or currency, as the case 
                                              may be, and may by the same or a 
                                              subsequent direction specify the 
                                              manner in which, the persons to 
                                              whom and the terms on which the 
                                              property is to be sold.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Without prejudice to the 
                                              generality of subsection (1) of 
                                              this section, the power conferred 
                                              thereby to give directions shall 
                                              extend to the giving of directions 
                                              that the property shall be 
                                              assigned to the Minister or to a 
                                              person specified in the 
                                              directions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 27&#8212;Provisions Supplemental 
                                              to Preceding Provisions of Part V.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where, under the preceding 
                                              provisions of this Part of this 
                                              Act, the Minister has power to 
                                              give directions that any right to 
                                              receive any currency or to enforce 
                                              any security for the receipt 
                                              thereof, any goods, or any other 
                                              property shall be assigned to the 
                                              Minister, the Minister shall also 
                                              have power to direct that the 
                                              right, goods or property shall 
                                              vest in the Minister, and it or 
                                              they shall vest accordingly free 
                                              from any mortgage, pledge or 
                                              charge, and the Minister may deal 
                                              with it or them as he thinks fit.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where, in pursuance of 
                                              directions under the said 
                                              provisions, any right, goods or 
                                              property is or are assigned to the 
                                              Minister or to a person specified 
                                              in the directions, or any right, 
                                              goods or property vests or vest in 
                                              the Minister in pursuance of 
                                              directions given under subsection 
                                              (1) of this section, the Minister 
                                              shall pay the net sum recovered by 
                                              him in respect of the right, goods 
                                              or property to the person making 
                                              the assignment or, in the case of 
                                              any right, goods or property 
                                              vested in the Minister under 
                                              subsection (1) of this section, to 
                                              the person who, but for the 
                                              directions, would be entitled to 
                                              the right, goods or property.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 28&#8212;Transfer of Annuities, 
                                              Policies, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Bank of Ghana, no Ghana resident 
                                              shall transfer to an external 
                                              resident or a person who is to be 
                                              a nominee for an external 
                                              resident, any right to the sums 
                                              assured by any policy of 
                                              assurance, so, however, that where 
                                              the person liable for the sums so 
                                              assured makes any payment thereof 
                                              to a person resident in Ghana and 
                                              not elsewhere, or makes, with the 
                                              permission of the Bank, any 
                                              payment thereof to any other 
                                              person,&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) he shall not be bound to 
                                              inquire as to the residence of any 
                                              person other than the person to 
                                              whom, and (if it is not the same 
                                              person) the person to whose order, 
                                              the payment is made; and </span>
                                              </p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the payment shall, to the 
                                              extent of the sums paid, discharge 
                                              him from his liability under the 
                                              policy, notwithstanding that the 
                                              payment is made to or to the order 
                                              of a person who was not entitled 
                                              thereto otherwise than by virtue 
                                              of a transfer prohibited by this 
                                              subsection.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Subsections (2) and (3) of 
                                              section 21 of this Act shall apply 
                                              in relation to any transfer 
                                              prohibited by this section as they 
                                              apply in relation to a transfer 
                                              prohibited by this Act of a 
                                              security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) In this section &quot;nominee&quot; has, 
                                              in relation to any policy, annuity 
                                              or assurance, the same meaning as 
                                              it has in Part IV of this Act in 
                                              relation to a security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 29&#8212;Settlements.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Except with the consent of the 
                                              Bank of Ghana, no Ghana resident 
                                              shall settle any property, 
                                              otherwise than by will, so as to 
                                              confer an interest in the property 
                                              on a person who, at the time of 
                                              the settlement, is an external 
                                              resident, or shall exercise, 
                                              otherwise than by will, any power 
                                              of appointment, whether created by 
                                              will or otherwise, in favour of a 
                                              person who, at the time of the 
                                              exercise of the power, is an 
                                              external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) A settlement or exercise of a 
                                              power of appointment shall not be 
                                              invalid by reason that it is 
                                              prohibited by this section, except 
                                              so far as it purports to confer 
                                              any interest on any person who, at 
                                              the time of the settlement or the 
                                              exercise of the power, is an 
                                              external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Subsections (2) and (3) of 
                                              section 21 of this Act shall apply 
                                              in relation to a settlement or the 
                                              exercise of a power of appointment 
                                              prohibited by this section as they 
                                              apply in relation to a transfer 
                                              prohibited by this Act of a 
                                              security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) For the purposes of this 
                                              section&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) any reference to settling 
                                              property includes a reference to 
                                              the making of any disposition, 
                                              covenant, agreement or arrangement 
                                              whereby the property becomes 
                                              subject to a trust, or (in the 
                                              case of resettlement) to a 
                                              different trust; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) a person shall be deemed to 
                                              have an interest in property if he 
                                              has any beneficial interest 
                                              therein, whether present or 
                                              future, and whether vested or 
                                              contingent, or falls within a 
                                              limited class of persons in whose 
                                              favour a discretion or power in 
                                              respect of the property is 
                                              exercisable.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 30&#8212;Companies.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) Where there is served on any 
                                              Ghana resident a notice in writing 
                                              that the Bank of Ghana wishes any 
                                              such requirements as are 
                                              hereinafter mentioned to be 
                                              complied with by any such body 
                                              corporate as is specified in the 
                                              First Schedule to this Act 
                                              (hereafter in this section 
                                              referred to as &quot;an external 
                                              company&quot;) and that person can by 
                                              doing any act,&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) cause the external company to 
                                              comply with any of the 
                                              requirements; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) remove any obstacle to the 
                                              company complying with any of the 
                                              requirements; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) render it in any respect more 
                                              probable that the company will 
                                              comply with any of the 
                                              requirements,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              then, except so far as consent to 
                                              the contrary may be given by the 
                                              Bank of Ghana, that person shall 
                                              do that act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The requirements with respect to 
                                              which such a notice may be given 
                                              are as follows, that is to say, 
                                              that the external company shall&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              furnish to the Bank of Ghana such 
                                              particulars as to its assets and 
                                              business as may be mentioned in 
                                              the notice;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) sell or procure the sale to 
                                              an authorised dealer of any gold 
                                              or external currency mentioned in 
                                              the notice, being gold or external 
                                              currency which it is entitled to 
                                              sell or of which it is entitled to 
                                              procure the sale;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (iii) declare and pay such 
                                              dividend as may be mentioned in 
                                              the notice;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (iv) realise any of its assets 
                                              mentioned in the notice in such 
                                              manner as may be so mentioned;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (v) refrain from selling, 
                                              transferring, or doing anything 
                                              which affects its rights or powers 
                                              in relation to, any such 
                                              securities as may be mentioned in 
                                              the notice.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where any sum falls to be paid 
                                              by an authorised dealer on the 
                                              sale of gold or currency in 
                                              pursuance of a requirement 
                                              notified under the preceding 
                                              subsection, the Bank of Ghana may 
                                              direct the authorised dealer to 
                                              pay the sum to a blocked account 
                                              only, and where such a direction 
                                              is given the Second Schedule to 
                                              this Act shall have effect in 
                                              relation to the payment of the 
                                              sum.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Except with the consent of the 
                                              Bank of Ghana, no Ghana resident 
                                              shall do any act whereby a body 
                                              corporate which is by any means 
                                              controlled (whether directly or 
                                              indirectly) by Ghana residents 
                                              ceases to be controlled by Ghana 
                                              residents:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this subsection 
                                              shall not prohibit any person from 
                                              selling securities authorised to 
                                              be dealt in on any recognised 
                                              stock exchange in Ghana if the 
                                              sale takes place in pursuance of 
                                              an agreement entered into in the 
                                              ordinary course of business on 
                                              that exchange.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Except in such circumstances 
                                              as may be prescribed, no Ghana 
                                              resident shall lend money in any 
                                              form or any securities to a body 
                                              corporate resident in Ghana which 
                                              is by any means controlled 
                                              (whether directly or indirectly) 
                                              by external residents:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this subsection 
                                              shall not apply where the lender 
                                              after making such inquiries as are 
                                              reasonable in the circumstances of 
                                              the case does not know and has no 
                                              reason to suspect that the body 
                                              corporate is controlled as 
                                              aforesaid.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) For the purposes of this 
                                              section and of the First Schedule 
                                              to this Act, persons shall be 
                                              deemed to control a body corporate 
                                              notwithstanding that other persons 
                                              are associated with them in the 
                                              control thereof if they can 
                                              together override those other 
                                              persons.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) In this section &quot;security&quot; 
                                              includes a secondary security.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 31&#8212;Special Power to 
                                              Safeguard Economy of Ghana.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Where the Minister is satisfied 
                                              that, owing to a change in the 
                                              external or internal position of 
                                              any country, action is being or is 
                                              likely to be taken to the 
                                              detriment of the economic position 
                                              of Ghana, he may give general or 
                                              special directions prohibiting, 
                                              either absolutely or to such 
                                              extent as may be specified in the 
                                              directions, the carrying out, 
                                              except with permission granted by 
                                              or on behalf of the Minister, of 
                                              any order given by or on behalf 
                                              of&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the country, or the Sovereign 
                                              thereof, or any person resident 
                                              therein, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) any body or corporation which 
                                              is incorporated under the law of 
                                              the country or is under the 
                                              control of the country, or the 
                                              Sovereign thereof, or any person 
                                              resident therein,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              in so far as the order&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              requires the person to whom the 
                                              order is given to make any payment 
                                              or to part with any gold or 
                                              securities, or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) requires any change to be 
                                              made in the person to whose credit 
                                              any sum of money is to stand or to 
                                              whose order any gold or securities 
                                              are to be held.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART VI&#8212;SUPPLEMENTAL</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 32&#8212;Persons Leaving Ghana.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Where a Ghana resident leaves 
                                              Ghana, the Bank of Ghana may, 
                                              before, at or after the time he 
                                              leaves Ghana, direct that, for 
                                              such period as may be specified in 
                                              the direction, payments by him or 
                                              on his behalf and to him or to his 
                                              credit, and transactions in or in 
                                              relation to Ghana Treasury bills, 
                                              or securities or secondary 
                                              securities, in which he is in any 
                                              way concerned shall, whether or 
                                              not he continues to be resident in 
                                              Ghana, be subject to such 
                                              restrictions as may be specified 
                                              in the direction.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 33&#8212;Evidence.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">A 
                                              document stating that any consent 
                                              or direction is given under this 
                                              Act, and purporting to be signed 
                                              by or on behalf of the person 
                                              giving the consent or direction, 
                                              shall be evidence of the facts 
                                              stated in the document.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 34&#8212;Residence.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The Bank of Ghana may give 
                                              directions declaring that for all 
                                              or any of the purposes of this Act 
                                              a person is to be treated as 
                                              resident or not resident in such 
                                              territories as may be specified in 
                                              the directions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Except where the Bank of Ghana 
                                              otherwise directs</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) a person carrying on in Ghana 
                                              a branch of any business shall, as 
                                              respects such business as he is 
                                              carrying on by that branch, be 
                                              treated for the purposes of this 
                                              Act as a Ghana resident;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) a transaction with or by a 
                                              branch of any business, whether 
                                              carried on by a body corporate or 
                                              otherwise, shall be treated for 
                                              the purposes of this Act as if the 
                                              branch were a body corporate 
                                              resident where the branch is 
                                              situated.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              In this subsection &quot;branch&quot; 
                                              includes the head office of a 
                                              business; and this subsection 
                                              shall apply in relation to a body 
                                              of persons (whether corporate or 
                                              unincorporate) who carry on any 
                                              activity, whether for the purpose 
                                              of profit or not, as it applies in 
                                              relation to a business.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) For the purposes of this Act a 
                                              personal representative of a 
                                              deceased person shall, unless the 
                                              Bank of Ghana otherwise directs, 
                                              be treated as resident in the 
                                              territory where the deceased was 
                                              resident for the purposes in 
                                              question at the time of his death 
                                              and as not resident elsewhere, so 
                                              far as relates to any matters in 
                                              which the personal representative 
                                              is concerned solely in his 
                                              capacity as such.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 35&#8212;Contracts, Legal 
                                              Proceedings, Etc.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) It shall be an implied 
                                              condition in any contract that, 
                                              where, by virtue of this Act any 
                                              consent is at the time of the 
                                              contract required for the 
                                              performance of any term thereof, 
                                              that term shall not be performed 
                                              except in so far as the consent is 
                                              given or is subsequently not 
                                              required:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this subsection 
                                              shall not apply in so far as it is 
                                              shown to be inconsistent with the 
                                              intention of the parties that it 
                                              should apply, whether by reason of 
                                              their having contemplated the 
                                              performance of that term inspite 
                                              of the provisions of this Act or 
                                              for any other reason.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Notwithstanding anything in 
                                              the Bills of Exchange Act, 1961 
                                              (Act 55) neither the provisions of 
                                              this Act, nor any condition, 
                                              whether express or to be implied 
                                              having regard to those provisions, 
                                              that any payment shall not be made 
                                              without consent under this Act, 
                                              shall be deemed to prevent any 
                                              instrument being a bill of 
                                              exchange or promissory note.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) The provisions of the Third 
                                              Schedule to this Act shall have 
                                              effect with respect to legal 
                                              proceedings, arbitrations, 
                                              insolvency proceedings, the 
                                              administration of the estates of 
                                              deceased persons, the winding up 
                                              of companies, and proceedings 
                                              under deeds of arrangement or 
                                              trust deeds for behoof of 
                                              creditors.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 36&#8212;Enforcement and 
                                              Administration.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The provisions of the Fourth 
                                              Schedule to this Act shall have 
                                              effect for the purpose of the 
                                              enforcement of this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) In the exercise of its 
                                              functions under this Act, the Bank 
                                              of Ghana shall comply with any 
                                              directions given to it by the 
                                              Minister.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Persons belonging to the 
                                              following classes, that is to say&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) bankers, authorised dealers 
                                              and authorised depositaries;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) persons who with the consent 
                                              of any person are in possession of 
                                              documents which would, but for the 
                                              consent, have to be in the custody 
                                              of an authorised depositary;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) persons concerned with the 
                                              keeping of any register in Ghana; 
                                              and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) persons entrusted with the 
                                              payment of capital moneys, 
                                              dividends or interest in Ghana,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              shall comply with such directions 
                                              as may be given to them 
                                              respectively by or on behalf of 
                                              the Minister, being&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">(i) 
                                              in the case of any such persons, 
                                              directions as respects the 
                                              exercise of any functions 
                                              exercisable by them by virtue of, 
                                              or by virtue of anything done 
                                              under, any provision of this Act; 
                                              or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (ii) in the case of authorised 
                                              dealers, such&nbsp; directions as 
                                              aforesaid or directions as to the 
                                              terms on which they are to accept 
                                              gold or external currency or 
                                              directions requiring them to offer 
                                              their gold or external currency 
                                              for sale to the Bank of Ghana on 
                                              such terms as may be specified in 
                                              any such directions.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 37&#8212;Interpretation.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) In this Act, unless the 
                                              context otherwise requires&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;authorised dealer&quot; means a person 
                                              prescribed in that behalf under 
                                              section 1(1) of this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;authorised depositary&quot; means a 
                                              person prescribed in that behalf 
                                              under section 11 of this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;bearer certificate&quot; means a 
                                              certificate of title to securities 
                                              by the delivery of which (with or 
                                              without endorsement) the title to 
                                              the securities is transferable;
                                              </span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;certificate of title to 
                                              securities&quot; means any document of 
                                              title whereby a person recognises 
                                              the title of another to securities 
                                              issued or to be issued by the 
                                              first-mentioned person, and in the 
                                              case of any such document with 
                                              coupons (whether attached or on 
                                              separate coupon sheets) includes 
                                              any coupons which have not been 
                                              detached;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;coupon&quot; means a coupon 
                                              representing dividends or interest 
                                              on a security;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;currency note&quot; means a note which 
                                              is or has at any time been legal 
                                              tender, whether the note is whole 
                                              or mutilated;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;external currency&quot; means the 
                                              currency of any country other than 
                                              Ghana, and any reference to 
                                              external currency includes a 
                                              reference to external currency 
                                              notes, external currency drafts 
                                              and any right to receive external 
                                              currency in respect of a credit or 
                                              balance at a bank;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;external currency draft&quot; has the 
                                              meaning assigned to it by section 
                                              1(4) of this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;external resident&quot; means a person 
                                              resident outside Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;Ghana resident&quot; means a person 
                                              resident in Ghana;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;gold&quot; means gold coin or gold 
                                              bullion;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;Minister&quot; means the Minister 
                                              responsible for Finance;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;policy of assurance&quot; means any 
                                              policy securing the payment of a 
                                              capital sum or annuity on the 
                                              occurrence of a specified event 
                                              which is certain to happen and 
                                              includes&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) any policy by which the 
                                              payment of money is assured on 
                                              death (except death by accident 
                                              only) or the happening of any 
                                              contingency dependent on human 
                                              life; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) any policy securing the 
                                              payment of an immediate annuity;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              and the reference in this 
                                              definition to the occurrence of a 
                                              specified event which is certain 
                                              to happen shall include the 
                                              occurrence, which is certain to 
                                              happen, of one of specified events 
                                              none of which by itself is certain 
                                              to happen;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;prescribed&quot; means prescribed by 
                                              regulations made under section 38 
                                              of this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;secondary securities&quot; has the 
                                              meaning ascribed to it by section 
                                              22 of this Act;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;securities&quot; means shares, stock, 
                                              bonds, notes (other than 
                                              promissory notes), debentures, 
                                              debenture stock, units under a 
                                              unit trust scheme and shares in an 
                                              oil royalty;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              &quot;unit trust scheme&quot; means any 
                                              arrangements made for the purpose, 
                                              or having the effect, of providing 
                                              for persons having funds available 
                                              for investment, facilities for the 
                                              participation by them, as 
                                              beneficiaries under a trust, in 
                                              profits or income arising from the 
                                              acquisition, holding, management 
                                              or disposal of any property 
                                              whatsoever;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Any provision of this Act 
                                              (however worded) the effect of 
                                              which is to prohibit the doing of 
                                              any act where a person to or by 
                                              whom the act is to be done or who 
                                              stands in a specified relation to 
                                              any property possesses any 
                                              specified attribute as to 
                                              residence or otherwise shall, 
                                              where the act is done to or by two 
                                              or more persons or, as the case 
                                              may be, where two or more persons 
                                              stand jointly in that relation to 
                                              the property, operate to prohibit 
                                              the doing of that act if any of 
                                              those persons possess that 
                                              attribute; and any provision of 
                                              this Act imposing an obligation on 
                                              any person to do an act if he 
                                              possesses any specified attribute 
                                              as to residence or otherwise 
                                              shall, in relation to any act 
                                              which can only be done by two or 
                                              more persons jointly&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) where all those persons 
                                              possess that attribute, operate to 
                                              impose a joint obligation on all 
                                              of them to do the act; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) where some only of them 
                                              possess that attribute, operate to 
                                              impose a separate obligation on 
                                              each one of them who possesses 
                                              that attribute to do all he can to 
                                              secure the doing of the act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Nothing in this Act shall be 
                                              construed as requiring the 
                                              Minister to pay any sum otherwise 
                                              than in Ghana currency or 
                                              otherwise than in Ghana, and any 
                                              provision of this Act requiring 
                                              the Minister to pay any sum to any 
                                              person shall, where that sum is in 
                                              an external currency, be construed 
                                              as a provision that the Minister 
                                              shall pay to that person the 
                                              amount in Ghana currency which he 
                                              would have received for the 
                                              external currency if he had sold 
                                              it to an authorised dealer in 
                                              pursuance of an offer made under 
                                              section 3 of this Act at the time 
                                              when the said sum is paid.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The obligations and 
                                              prohibitions imposed by this Act 
                                              shall, subject to the express 
                                              limitations contained therein, 
                                              apply to all persons, 
                                              notwithstanding that they are not 
                                              in Ghana and are not citizens of 
                                              Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 38&#8212;Power to Make 
                                              Regulations.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Minister may by legislative 
                                              instrument make regulations 
                                              prescribing anything that is to be 
                                              prescribed under this Act or 
                                              otherwise making provision for the 
                                              purposes of this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 39&#8212;Repeal.</span></b></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (1) The following enactments are 
                                              hereby repealed&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Exchange Control Ordinance 
                                              (Cap. 206);</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              The Exchange Control (Amendment) 
                                              Ordinance, 1952 (No. 21);</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 55 (4) of the Bank of 
                                              Ghana Ordinance, 1957 (No. 34).</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">
                                              (2) Without prejudice to the 
                                              general effect of the 
                                              Interpretation Act, 1960 (CA 4) as 
                                              to repeals, any direction, 
                                              permission or consent given under 
                                              the Exchange Control Ordinance 
                                              (Cap. 206) shall operate as nearly 
                                              as may be as if it had been given 
                                              under this Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">&nbsp;</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <b>
                                              <span style="font-family: Arial">
                                              Section 40&#8212;Act binds Republic.</span></b></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">
                                              This Act binds the Republic, but 
                                              (without prejudice to any express 
                                              terms) no term shall be implied in 
                                              any contract entered into by or on 
                                              behalf of the Republic that the 
                                              Government will ensure that a 
                                              consent required by or under this 
                                              Act is given or that any other 
                                              function conferred by or under 
                                              this Act is exercised in a 
                                              particular way.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Section 41&#8212;Commencement.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              This Act shall be deemed to have 
                                              come into operation on 5th July, 
                                              1961.</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">
                                              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">
                                              EXTERNAL COMPANIES</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              1. The bodies corporate in 
                                              question are bodies corporate not 
                                              incorporated under the law of 
                                              Ghana in the case of which any of 
                                              the following conditions is 
                                              fulfilled&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) that the body corporate is by 
                                              any means controlled (whether 
                                              directly or indirectly) by Ghana 
                                              residents;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) that more than one-half of the 
                                              sums which, on a liquidation 
                                              thereof, would be receivable by 
                                              holders of share or loan capital 
                                              would be receivable directly or 
                                              indirectly by or for the benefit 
                                              of Ghana residents;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) that more than one-half of the 
                                              assets which, on a liquidation 
                                              thereof, would be available for 
                                              distribution after the payment of 
                                              creditors would be receivable 
                                              directly or indirectly by or for 
                                              the benefit of Ghana residents; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (d) that more than one-half&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">(i) 
                                              of the interest payable on its 
                                              loans and loan capital, if any; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (ii) of the dividends payable on 
                                              its preference share capital, if 
                                              any; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (iii) of the dividends payable on 
                                              its share capital, if any, not 
                                              being preference share capital, is 
                                              receivable, directly or 
                                              indirectly, by or for the benefit 
                                              of Ghana residents.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. Where the identity of the 
                                              persons by whom or for whose 
                                              benefit any sum, assets, interest 
                                              or dividends are directly or 
                                              indirectly receivable depends on 
                                              the exercise by a Ghana resident 
                                              of a power of appointment or 
                                              similar power, the sum, assets, 
                                              interest or dividends shall, for 
                                              the purposes of this Schedule, be 
                                              deemed to be receivable directly 
                                              or indirectly by or for the 
                                              benefit of Ghana residents.</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">
                                              SECOND SCHEDULE</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              BLOCKED ACCOUNTS</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              1. In this Schedule, the 
                                              expression &quot;a blocked account&quot; 
                                              means an account opened as a 
                                              blocked account at an office or 
                                              branch in Ghana in favour of any 
                                              person by a banker authorised by 
                                              the Bank of Ghana to open blocked 
                                              accounts, and the expression &quot;the 
                                              banker&quot; means, in relation to any 
                                              person, a banker who opens a 
                                              blocked account in favour of that 
                                              person.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. Where a direction is given that 
                                              a payment is to be made to a 
                                              blocked account only, then, 
                                              subject to the next following 
                                              paragraph&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the manner in which the 
                                              payment may be made shall be 
                                              either&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">(i) 
                                              to the banker, with a direction 
                                              that it is to be credited to a 
                                              blocked account of that person 
                                              (which direction may, in the case 
                                              of a payment by means of a cheque 
                                              or warrant, be made by marking the 
                                              cheque or warrant with the words 
                                              &quot;blocked account of&quot; [naming the 
                                              person in question] or words to 
                                              the same effect); or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 72.0pt">
                                              <span style="font-family: Arial">
                                              (ii) by a crossed cheque or 
                                              warrant drawn in favour of that 
                                              person, marked with the words 
                                              &quot;payable only to blocked account 
                                              of payee&quot; or words to the same 
                                              effect; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the sum collected shall be 
                                              credited by the banker to a 
                                              blocked account of that person.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              3. Where a direction is given that 
                                              a sum is to be paid or credited to 
                                              a blocked account only, then, 
                                              notwithstanding the direction, the 
                                              sum may, with the consent of the 
                                              person to whom it is to be paid or 
                                              credited, and subject to the 
                                              requirements of Part IV of this 
                                              Act, be invested instead in the 
                                              purchase for that person of any 
                                              such investments as may be 
                                              prescribed for the purposes of 
                                              paragraph (a) of the proviso to 
                                              the next following paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              4. Any sum standing to the credit 
                                              of a blocked account shall not be 
                                              dealt with except with the consent 
                                              of the Bank of Ghana:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that, subject to 
                                              compliance with the requirements 
                                              of Part IV of this Act&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) the whole or any part of any 
                                              such sum may, at the request of 
                                              the person in whose name the 
                                              account stands, be invested 
                                              through the banker in such 
                                              investments as may be prescribed; 
                                              and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) nothing in this Schedule shall 
                                              be construed as restricting the 
                                              manner in which the investments 
                                              acquired may be dealt with.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              5. Where a person in whose name a 
                                              blocked account is standing dies 
                                              or becomes subject to the Ghana 
                                              law of insolvency, the banker may, 
                                              notwithstanding anything in 
                                              paragraph 4 of this Schedule, 
                                              transfer the account to the name 
                                              of the person charged with 
                                              administering his assets, but, 
                                              save as aforesaid, no change 
                                              shall, except with the consent of 
                                              the Bank of Ghana, be made in the 
                                              name in which the account stands; 
                                              and where any such change is made 
                                              (whether or not the consent of the 
                                              Bank of Ghana is necessary 
                                              therefor) the account shall remain 
                                              a blocked account notwithstanding 
                                              the change, and the provisions of 
                                              this Schedule shall apply 
                                              accordingly.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              6. Where&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) a sum is due from any person 
                                              to any other person but the Bank 
                                              of Ghana directs that it shall be 
                                              paid or credited to a blocked 
                                              account only; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) the person to whom the sum is 
                                              due nominates such an account to 
                                              the person from whom the sum is 
                                              due,</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              the last mentioned person is under 
                                              a duty to the person to whom the 
                                              sum is due to cause the sum to be 
                                              paid or credited to that blocked 
                                              account, and the crediting of any 
                                              sum to a blocked account in 
                                              pursuance of a direction of the 
                                              Bank of Ghana shall, to the extent 
                                              of the sum credited, be a good 
                                              discharge to the person from whom 
                                              the sum is due:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that in the case of a sum 
                                              due under a contract&nbsp; this 
                                              paragraph shall not apply in so 
                                              far as it is shown to be 
                                              inconsistent with the intention of 
                                              the parties that it should apply.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              THIRD SCHEDULE</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              LEGAL PROCEEDINGS, ETC.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              1. The provisions of Part II of 
                                              this Act shall apply to sums 
                                              required to be paid by any 
                                              judgment or order of any court or 
                                              by any award as they apply in 
                                              relation to other sums, and it 
                                              shall be implied in any judgment 
                                              or order of any court in Ghana, 
                                              and in any award given under the 
                                              law of Ghana, that any sum 
                                              required to be paid by the 
                                              judgment, order or award (whether 
                                              as a debt, as damages or 
                                              otherwise) to which the said 
                                              provisions apply shall not be paid 
                                              except with the consent of the 
                                              Bank of Ghana.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. Nothing in this Act shall be 
                                              construed as preventing the 
                                              payment by any person of any sum 
                                              into any court in Ghana but the 
                                              provisions of Part II of this Act 
                                              shall apply to the payment of any 
                                              sum out of court, whether under an 
                                              order of the court or otherwise, 
                                              to or for the credit of any 
                                              external resident.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              3. Without prejudice to any 
                                              enactment relating to the making 
                                              of rules of court, rules of court 
                                              may be made&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) enabling any person who is 
                                              required by any judgment, order or 
                                              award to pay any sum, if he 
                                              apprehends that the payment of 
                                              that sum is unlawful under this 
                                              Act except with consent, to pay 
                                              that sum into court; and&nbsp;&nbsp;&nbsp;&nbsp;
                                              </span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) declaring that payment of a 
                                              sum into court by virtue of the 
                                              preceding sub-paragraph, together 
                                              with the delivery to the other 
                                              party concerned of such evidence 
                                              of the payment as may be 
                                              prescribed by the rules, shall, to 
                                              the extent of the payment, be a 
                                              good discharge to the person 
                                              making the payment; and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) so regulating the process of 
                                              execution which may issue in 
                                              respect of any sum required to be 
                                              paid by any judgment, order or 
                                              award as to secure that, unless it 
                                              is shown, in such manner as may be 
                                              prescribed by the rules, that 
                                              consent for the payment of the sum 
                                              is not required or has been given 
                                              without conditions, the proceeds 
                                              of the execution will be paid into 
                                              court, and, so far as is necessary 
                                              for that purpose, varying the form 
                                              of any writ of execution or other 
                                              similar document or the duties of 
                                              the sheriff or other officer to 
                                              whom any such writ or other 
                                              similar document is directed.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              4. (1) In any proceedings in a 
                                              prescribed court and in any 
                                              arbitration proceedings, a claim 
                                              for the recovery of any debt shall 
                                              not be defeated by reason only of 
                                              the debt not being payable without 
                                              consent and of consent not having 
                                              been given or having been revoked.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) No court shall be prescribed 
                                              for the purpose of this paragraph 
                                              unless the Minister is satisfied 
                                              that adequate provision has been 
                                              made therefor by rules of court 
                                              for the purposes specified under 
                                              the last preceding paragraph.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              5. (1) In any insolvency 
                                              proceedings, in the winding up of 
                                              any company or in the 
                                              administration of the estate of 
                                              any deceased person (being 
                                              proceedings, a winding up or any 
                                              administration carried on under 
                                              the law of Ghana), a claim for a 
                                              sum not payable without consent 
                                              shall, notwithstanding that 
                                              consent has not been given or has 
                                              been revoked, be admitted to proof 
                                              as if it had been given and had 
                                              not been revoked:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that nothing in this 
                                              sub-paragraph shall be construed 
                                              as affecting the application of 
                                              the provisions of Part II of this 
                                              Act to payments by any trustee, 
                                              liquidator, personal 
                                              representative or other person in 
                                              any such proceedings, winding up 
                                              or administration.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) The provisions of this Act 
                                              restricting the making of 
                                              settlements shall not apply to any 
                                              deed of arrangement made for the 
                                              benefit of creditors generally, 
                                              and the provisions of 
                                              sub-paragraph (1) of this 
                                              paragraph shall apply in relation 
                                              to proceedings under any deed of 
                                              arrangement as they apply in 
                                              relation to insolvency 
                                              proceedings.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              6. In paragraphs 3 to 5 of this 
                                              Schedule &quot;consent&quot; means consent 
                                              required by or under this Act.</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">
                                              FOURTH SCHEDULE</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              ENFORCEMENT</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART I&#8212; GENERAL PROVISIONS AS TO 
                                              EVIDENCE AND INFORMATION</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              1. (1) Without prejudice to any 
                                              other provisions of this Act, the 
                                              Minister may give to any person in 
                                              or resident in Ghana directions 
                                              requiring him within such time and 
                                              in such manner as may be specified 
                                              in the directions, to furnish to 
                                              the Minister, or to any person 
                                              designated in the directions as a 
                                              person authorised to require it, 
                                              any information in his possession 
                                              or control which the Minister or 
                                              the person so authorised, as the 
                                              case may be, may require for the 
                                              purpose of securing compliance 
                                              with or detecting evasion of this 
                                              Act.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) A person required by any such 
                                              directions as aforesaid to furnish 
                                              information shall also produce 
                                              such books, accounts or other 
                                              documents (hereafter in this Part 
                                              of this Schedule referred to as 
                                              &quot;documents&quot;) in his possession or 
                                              control as may be required for the 
                                              said purpose by the Minister or by 
                                              the person authorised to require 
                                              the information, as the case may 
                                              be.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Nothing in the preceding 
                                              provisions of this paragraph shall 
                                              be taken to require any person who 
                                              has acted as counsel or solicitor 
                                              for any person to disclose any 
                                              privileged communication made to 
                                              him in that capacity.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Where a person is convicted on 
                                              indictment for failing to give 
                                              information or produce documents 
                                              when required so to do under this 
                                              paragraph, the court may make an 
                                              order requiring the offender, 
                                              within such period as may be 
                                              specified in the order, to comply 
                                              with the requirement to give the 
                                              information or produce the 
                                              documents.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              2. (1) If a district magistrate is 
                                              satisfied by information on oath 
                                              given by a person authorised by 
                                              the Minister to act for the 
                                              purposes of this paragraph either&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) that there is reasonable 
                                              ground for suspecting that an 
                                              offence against this Act has been 
                                              or is being committed and that 
                                              evidence of the commission of the 
                                              offence is to be found at any 
                                              premises specified in the 
                                              information, or in any vehicle, 
                                              vessel or aircraft so specified; 
                                              or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) that any documents which ought 
                                              to have been produced under the 
                                              preceding paragraph and have not 
                                              been produced are to be found at 
                                              any such premises or in any such 
                                              vehicle, vessel or aircraft,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              he may grant a search warrant 
                                              authorising any police officer, 
                                              together with any other persons 
                                              named in the warrant and any other 
                                              police officers, to enter the 
                                              premises specified in the 
                                              information or, as the case may 
                                              be, any premises upon which the 
                                              vehicle, vessel or aircraft so 
                                              specified may be, at any time 
                                              within one month from the date of 
                                              the warrant, and to search the 
                                              premises, or, as the case may be, 
                                              the vehicle, vessel or aircraft.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) A person authorised by any 
                                              such warrant as aforesaid to 
                                              search any premises or any 
                                              vehicle, vessel or aircraft, may 
                                              search every person who is found 
                                              in, or whom he has reasonable 
                                              ground to believe to have recently 
                                              left or to be about to enter, 
                                              those premises or that vehicle, 
                                              vessel or aircraft, as the case 
                                              may be, and may seize any article 
                                              found in the premises or in the 
                                              vehicle, vessel or aircraft which 
                                              he has reasonable ground for 
                                              believing to be evidence of the 
                                              commission of any offence against 
                                              this Act, or any documents which 
                                              he has reasonable ground for 
                                              believing ought to have been 
                                              produced under the preceding 
                                              paragraph:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that no female shall, in 
                                              pursuance of any warrant issued 
                                              under this paragraph, be searched 
                                              except by a female.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Where, by virtue of this 
                                              paragraph, a person has any power 
                                              to enter any premises he may use 
                                              such force as is reasonably 
                                              necessary for the purpose of 
                                              exercising that power.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              3. (1) Any article coming into the 
                                              possession of an executive 
                                              authority (whether in consequence 
                                              of the seizure of the article 
                                              under or by virtue of this Act or 
                                              otherwise) which the authority has 
                                              reasonable ground for believing to 
                                              be evidence of the commission of 
                                              an offence against this Act may be 
                                              retained for a period of three 
                                              months or, if within that period 
                                              there are commenced proceedings in 
                                              respect of such an offence in 
                                              which the article is, or can 
                                              properly be, adduced in evidence, 
                                              until the final determination of 
                                              those proceedings.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) For the purposes of this 
                                              paragraph, any person to whom any 
                                              powers under this Act are 
                                              delegated or on whom any functions 
                                              are conferred by or by virtue of 
                                              this Act, including any police 
                                              officer, shall be deemed to be an 
                                              executive authority.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) For the purposes of this 
                                              paragraph, any proceedings shall 
                                              be deemed not to have been finally 
                                              determined so long as there is 
                                              pending any appeal in the matter 
                                              of the proceedings, and an appeal 
                                              in that matter shall be deemed to 
                                              be pending during the ordinary 
                                              time within which such an appeal 
                                              may be lodged, and, if such appeal 
                                              is duly lodged, the appeal shall 
                                              be deemed to be pending until it 
                                              is decided or withdrawn.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) The powers conferred by this 
                                              paragraph in relation to any 
                                              article shall be in addition to, 
                                              and not in derogation of, any 
                                              powers otherwise exercisable in 
                                              relation thereto.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              4. No person in or resident in 
                                              Ghana shall&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) with intent to evade the 
                                              provisions of this Act, destroy, 
                                              mutilate, deface, secrete or 
                                              remove any documents;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) in furnishing any information 
                                              for any of the purposes of this 
                                              Act, make any statement which he 
                                              knows to be false in a material 
                                              particular, or recklessly make any 
                                              statement which is false in a 
                                              material particular;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (c) obstruct any person in the 
                                              exercise of any powers conferred 
                                              on him by virtue of this Part of 
                                              this Schedule.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              PART II&#8212;GENERAL PROVISIONS AS TO 
                                              OFFENCES</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              5. (1) Any person in or resident 
                                              in Ghana who contravenes any 
                                              restriction or requirement imposed 
                                              by or under this Act, and any such 
                                              person who conspires or attempts, 
                                              or aids, abets, counsels or 
                                              procures any other person, to 
                                              contravene any such restriction or 
                                              requirement as aforesaid, shall be 
                                              guilty of an offence punishable 
                                              under this Part of this Schedule:</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              Provided that&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) a person shall not by virtue 
                                              of any direction given under this 
                                              Act be convicted of an offence 
                                              against this Act if he proves that 
                                              he did not know, and did not avoid 
                                              getting to know, of the direction;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) an offence punishable by 
                                              virtue of Part III of this 
                                              Schedule shall not be punishable 
                                              under this Part of this Schedule.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Where an offence punishable 
                                              under this Part of this Schedule 
                                              has been committed by a body 
                                              corporate, any person who at the 
                                              time of the commission of the 
                                              offence was a director, general 
                                              manager, secretary or other 
                                              similar officer of the body 
                                              corporate, or was purporting to 
                                              act in any such capacity, shall be 
                                              deemed to be guilty of that 
                                              offence, unless he proves that the 
                                              contravention was committed 
                                              without his consent or connivance 
                                              and that he exercised all such 
                                              diligence to prevent the 
                                              commission of the offence as he 
                                              ought to have exercised having 
                                              regard to the nature of his 
                                              functions in that capacity and to 
                                              all the circumstances.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Repealed by Exchange Control 
                                              (Amendment) Decree, 1977 (SMCD 99) 
                                              s. 2(a)</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) Where a corporation is charged 
                                              with an offence under this 
                                              Schedule the corporation may enter 
                                              in writing by its representative a 
                                              plea of guilty or not guilty, and 
                                              if either the corporation does not 
                                              appear by representative or, 
                                              though it does so appear, fails to 
                                              enter a plea as aforesaid, the 
                                              Court shall order a plea of not 
                                              guilty to be entered and the trial 
                                              shall proceed as though the 
                                              corporation had duly entered a 
                                              plea of not guilty. [As 
                                              Substituted by Exchange Control 
                                              (Amendment)&nbsp; Decree, 1977 (SMCD 
                                              99) s. 2b].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (5) Any summons and any other 
                                              document addressed to a 
                                              corporation may be served upon the 
                                              corporation by leaving it at, or 
                                              sending it by post to the 
                                              registered office of the 
                                              corporation or, if there is no 
                                              such office in Ghana, by leaving 
                                              it at or sending it by post to, 
                                              the corporation at any place in 
                                              Ghana at which it trades or 
                                              carries on business. [As 
                                              Substituted by Exchange Control 
                                              (Amendment) Decree, 1977 (SMCD 99) 
                                              s. 2b].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (6) In this paragraph the 
                                              expression &quot;representative&quot; in 
                                              relation to a corporation means a 
                                              person duly appointed by the 
                                              corporation to represent it for 
                                              the purpose of doing any act or 
                                              thing which the representative of 
                                              a corporation is by this Part of 
                                              this Schedule authorised to do, 
                                              but a person so appointed shall 
                                              not, by virtue only of being so 
                                              appointed, be qualified to act on 
                                              behalf of the corporation before 
                                              any court for any other purpose.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">A 
                                              representative for the purposes of 
                                              this Part of this Schedule need 
                                              not be appointed under the seal of 
                                              the corporation, and a statement 
                                              in writing purporting to be signed 
                                              by a managing director of the 
                                              corporation or by any person (by 
                                              whatever name called) having, or 
                                              being one of the persons having, 
                                              the management of the affairs of 
                                              the corporation, to the effect 
                                              that the person named in the 
                                              statement has been appointed as 
                                              the representative of the 
                                              corporation for the purposes of 
                                              this Part of this Schedule shall 
                                              be admissible without further 
                                              proof as prima facie evidence that 
                                              that person has been so appointed.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (7) Any person who commits an 
                                              offence punishable under this Part 
                                              of this Schedule shall be liable 
                                              on summary conviction to a term of 
                                              imprisonment not less than three 
                                              years and not exceeding seven 
                                              years without the option of a 
                                              fine:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that the court convicting 
                                              a person under this subparagraph 
                                              may impose a term of imprisonment 
                                              less than three years or a fine 
                                              not exceeding ¢20,000.00 or both 
                                              if satisfied on grounds stated 
                                              that the offence was trivial or 
                                              that there are special 
                                              circumstances relating to the 
                                              offence or the offender which 
                                              would render unjust the 
                                              application of the minimum penalty 
                                              prescribed by this subparagraph.&quot; 
                                              [As Substituted by Exchange 
                                              Control (Amendment) Decree, 1973, 
                                              (NRCD 220) s. 2].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (8) The court may if it thinks fit 
                                              order any currency, security, 
                                              gold, goods or other property in 
                                              respect of which the offence was 
                                              committed to be forfeited to the 
                                              Republic, or, where such currency, 
                                              security, gold, goods or other 
                                              property is not available to be 
                                              forfeited, may order the offender 
                                              to pay a further penalty not 
                                              exceeding three times the amount 
                                              or value thereof.&quot; [As Substituted 
                                              by the Exchange Control 
                                              (Amendment) Decree, 1973, NRCD 220 
                                              s. 2].</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              6. (1) No proceedings for an 
                                              offence punishable under this Part 
                                              of this Schedule shall be 
                                              instituted, except by or with the 
                                              consent of the Attorney-General:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that this sub-paragraph 
                                              shall not prevent the issue or 
                                              execution of a warrant for the 
                                              arrest of any person in respect of 
                                              such an offence, or the remanding 
                                              in custody or on bail of any 
                                              person charged with such an 
                                              offence.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (2) Proceedings against any person 
                                              in respect of an offence 
                                              punishable under this Part of this 
                                              Schedule may be taken before the 
                                              appropriate court having 
                                              jurisdiction in the place where 
                                              that person is for the time being.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (3) Any proceedings under a law 
                                              establishing summary jurisdiction 
                                              which may be taken against any 
                                              person in respect of any offence 
                                              punishable under this Part of this 
                                              Schedule may, notwithstanding 
                                              anything to the contrary in that 
                                              law, be taken at any time within 
                                              twelve months from the date of the 
                                              commission of the offence or 
                                              within three months from the date 
                                              on which evidence sufficient in 
                                              the opinion of the Minister to 
                                              justify the proceedings comes to 
                                              the knowledge of the Minister, 
                                              whichever period last expires, or, 
                                              where the person in question was 
                                              outside Ghana at the date last 
                                              mentioned, within twelve months 
                                              from the date on which he first 
                                              arrives in Ghana thereafter.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              (4) For the purposes of this 
                                              paragraph a certificate of the 
                                              Minister as to the date on which 
                                              such evidence as aforesaid came to 
                                              the knowledge of the Minister 
                                              shall be conclusive evidence 
                                              thereof.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              7. The maximum period of 
                                              imprisonment that may be imposed 
                                              by a court of summary 
                                              jurisdiction&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) in respect of the non-payment 
                                              of a sum adjudged to be paid by a 
                                              conviction for an offence 
                                              punishable under this Part of this 
                                              Schedule; or</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) in respect of the default of a 
                                              sufficient distress to satisfy any 
                                              such sum,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              shall, in cases where the sum 
                                              exceeds £G20, be increased in 
                                              accordance with the following 
                                              scale, that is to say,&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <i>
                                              <span style="font-family: Arial">
                                              Where the amount of the sum 
                                              adjudged to</span></i></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <i>
                                              <span style="font-family: Arial">
                                              &nbsp;be paid by the conviction, 
                                              &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; 
                                              The said period</span></i></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <i>
                                              <span style="font-family: Arial">
                                              as ascertained by the conviction,&#8212; 
                                              &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; 
                                              shall not exceed&#8212;</span></i></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Exceeds £G20 but does not exceed 
                                              £G100&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four 
                                              months.</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Exceeds £G100&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; Six months.</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">
                                              PART III&#8212;IMPORT AND EXPORT</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              8. The enactments relating to 
                                              customs shall, subject to such 
                                              modifications, if any, as may be 
                                              prescribed to adapt them to this 
                                              Act, apply in relation to anything 
                                              prohibited to be imported or 
                                              exported by any of the provisions 
                                              of Part III of this Act as they 
                                              apply in relation to goods 
                                              prohibited to be imported or 
                                              exported by or under any of the 
                                              said enactments, and any reference 
                                              in the said enactments to goods 
                                              shall be construed as including a 
                                              reference to anything prohibited 
                                              to be imported or exported by any 
                                              of the provisions of the said Part 
                                              III.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              9. Any declaration required to be 
                                              given under Part III of this Act 
                                              shall, for the purposes of the 
                                              Customs Ordinance (Cap. 167), be 
                                              deemed to be a declaration in a 
                                              matter relating to customs.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              10. Without prejudice to any of 
                                              the preceding provisions of this 
                                              Part of this Schedule, any person 
                                              who, on any occasion, is about to 
                                              leave Ghana or arrives in Ghana 
                                              (which person is hereafter in this 
                                              paragraph referred to as &quot;the 
                                              traveller&quot;) shall, if on that 
                                              occasion he is required so to do 
                                              by an Officer of Customs and 
                                              Excise or an immigration Officer&#8212;</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (a) declare whether or not he has 
                                              with him anything prohibited to be 
                                              imported or exported by any of the 
                                              provisions of the said Part III, 
                                              and</span></p>
                                              <p class="MsoNormal" style="text-align: justify; margin-left: 36.0pt">
                                              <span style="font-family: Arial">
                                              (b) produce any such thing as 
                                              aforesaid which he has with him,</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              and the officer may examine or 
                                              search any article which the 
                                              traveller has with him for the 
                                              purpose of ascertaining whether he 
                                              is conveying or has in his 
                                              possession any such thing, and, if 
                                              the officer has reasonable grounds 
                                              for suspecting that the traveller 
                                              has about his person any such 
                                              thing, search him and may seize 
                                              anything produced as aforesaid or 
                                              found upon such examination or 
                                              search as aforesaid as to which 
                                              the officer has reasonable ground 
                                              for suspecting that it is 
                                              prohibited to be imported or 
                                              exported by any of the provisions 
                                              of the said Part III:</span></p>
                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt">
                                              <span style="font-family: Arial">
                                              Provided that no female shall be 
                                              searched in pursuance of this 
                                              paragraph except by a female.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              11. Sub-paragraph (2) of paragraph 
                                              5 of this Schedule shall apply 
                                              also to offences punishable by 
                                              virtue of this Part of this 
                                              Schedule.</span></p>
                                              <p class="MsoNormal" style="text-align: justify">&nbsp;</p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              amended by</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              EXCHANGE CONTROL (AMENDMENT) 
                                              DECREE, 1973 (NRCD 220).1</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              EXCHANGE CONTROL (AMENDMENT) 
                                              DECREE, 1977 (SMCD 99).2</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">
                                              EXCHANGE CONTROL (AMENDMENT) LAW, 
                                              1986 (PNDCL 149).3</span></p>
                                              <p class="MsoNormal" style="text-align: justify">
                                              <span style="font-family: Arial">&nbsp;</span></td>
                </tr>
              </tbody>
            </table>