M ordinance 75 of 1949 revised edition 2004 31st july 2004 an act relating to bills of exchange, cheques and promissory notes. Ghana enacts new income tax act ey global tax alert library access both online and pdf versions. Parliament passes fiscal responsibility act to ensure. Bills of exchange are widely used to finance trade and, when discounted with a financial institution, to obtain credit. The bills of exchange act 1882 is a united kingdom act of parliament concerning bills of exchange. The companies code 1963 act 179 regulations of hfc bank ghana limited 1 the name of the company is hfc bank ghana limited 2 the businesses which the company is authorized to carry on are. Payment systems in tanzania bank for international.
Bills of exchange act chapter 23 original enactment. This act may be cited as the consumer protection act. The bank of ghana is therefore, charged with the responsibility of ensuring that the financial system is stable to ensure that it serves as facilitator for wealth creation, economic growth and development. African union import levy bill, 2017 laid on 06102017 by ken oforiatta minister responsible for finance chartered inst1. Laws and regulations securities and exchange commission. Ghana is about to enact a right to information law now the right to information bill to provide a.
Therefore nonresident investors can now invest on our market with no limits or prior exchange control approval. Ghanas constitution of 1992 with amendments through 1996. Banks and specialised deposit act 2016 bank of ghana. The evoluation of ghana law since independence assembly is curtailed, however, by the necessity for presidential assent before a bill can become effective, 6 by the prohibition of amendments of the annual estimates money bills submitted by the cabinet,7 and is at least qualified by the special. Ghana association of bankers gab banking code, 2003 6. Get all the latest updates and breaking news of ghana in the online papers at news ghana. Bills of exchange act 1933 uganda legal information institute. Justice daniel francis kweipe annan was the first speaker of the parliament of the 4th republic of ghana. The act was drafted by sir mackenzie chalmers, who later drafted the sale of goods act 1893 and the marine insurance act 1906. Pdf information is an important resource in the 21st century knowledgebased society. Acts of ghana first republic criminal procedure code, 1960 act 30 arrangement of sections section part igeneral provisions procedure 1. Assent 26th may, 2006 commencement 1st july, 2006 1.
The new foreign exchange act of 2006 act 723 has done away with these limits. Ghanas parliament passed extensive amendments to its petroleum revenue management act and the petroleum exploration and production bill which updates a 1984 petroleum law and seeks to make the management of ghanas petroleum resources more transparent. Bills of exchange act 1961 act 55 section 22 forged or unauthorized signature. This act may be cited as the bills of exchange act. It is in a looseleaf format, allowing for annual updates by means of service issues. The public is reminded that the ghana cedi is the only legal tender in ghana and that the us dollar or any other foreign currency is not the legal tender in ghana. The bill of exchange, as a credit and transfer instrum ent, required four partiestwo principals and two agentsin two cities, using two different currencies, as follows. An act to define and amend the law relating to promissory notes, bills of exchange and cheques. Ghana has a new companies act the companies act 2019. Whereas it is expedient to define and amend the law relating to, promissory notes, bills of exchange and cheques. This is stated among the functions of bog as indicated below.
Dec 23, 2018 business news of sunday, 23 december 2018. B4 an act relating to bills of exchange, cheques and promissory notes. The income tax bill, 20, which was passed by ghana s parliament on 24 july 2015, was assented to by the president on 1 september 2015. Drawer an orderer or an issuer of a bill of exchange indicated on the front of the. Customs and excise petroleum taxes and petroleum related levies repeal bill, 2017 laid on 17082017 by hon. Effect where different parties to bill are the same person 6. No resident of ghana, other than those licensed by the bank of ghana to do so, shall price, advertise, receive or. The council of the exchange was inaugurated on november 12, 1990 and trading commenced on its floor the same day.
With this act, congress created the securities and exchange commission. Bills of exchange act 1933 uganda legal information. Having served as the secretariat for the coalition on the right to information, ghana rti coalition for over a decade and half, we at the commonwealth human rights initiative chri, africa oice have been interested in documenting the history of the struggle that led to the eventual passage of ghana s long overdue right to information act. Foreign exchange act, 2006 act 723 ghana has a new foreign exchange act, 2006 act 723 which became effective on december 29, 2006.
Overview securities and exchange commission ghana sec. Power to break out of any house for purpose of liberation. May 07, 2019 20190507 after almost six decades in use, ghanas companies act of 1963 will finally be replaced with the new companies act, 2019 which awaits presidential assent. It became the securities and exchange commission by an act of parliament, securities industry amendment act, 2000 act 590. These were notices bggovsec20073 and bggovsec20074 both dated march 15, 2007. Consolidate the laws relating to income tax simplify the income tax law provisions and make it user friendly address various forms of tax base erosions on employment income, gift tax and interest paid on residential mortgages 30 november 2015 global tax alert ghana enacts new income tax act ey global tax. The bill, which has been touted by the government as one of the. Following the laws of ghana revised edition amendment act, 2006 act 711 and the laws of ghana revised edition amendment act, 2007 act 729, the government of ghana has now published the revised laws of ghana, 2004, presently comprising seven volumes. General provisions article 1 this act sets forth the contents, the types of bills of exchange and the operations and rules that relate to the bills of exchange. A bill of exchange drawn on a banker payable on demand s. Act of the parliament of the republic of ghana entitled data protection act, 2012 an act to establish a data protection commission, to protect the privacy of the individual and personal data by regulating the processing of personal information, to provide the process to obtain, hold, use or disclose personal information and for related matters. No resident of ghana, other than those licensed by the bank of ghana to do so, shall price, advertise, receive or make payment in any foreign currency for goods. The securities and exchange commission was formally set up in september 1998 as an independent regulator of the capital market in ghana.
Part iv of the evidence act, 1967 provides for bankers books evidence. By exempting many small offerings from the registration process, the sec seeks to foster capital formation by lowering the cost of offering securities to the public. Consumer protection an act to make provision for the greater protection of consumers, to establish a consumer protection commission and for the functions and powers of that commission and related matters. The text of the crs together with the commentary have been incorporated into the ghana s domestic law as a schedule. At a very high level, the new act seeks to introduce improved corporate governance standards for companies operating in ghana. Effect where different parties to bill are the same person. Banking and negotiable instrument notes20092010 second. Short title 1 this act may be cited as the bills of exchange act. English bills of exchange act 1882 which specifies how cheques are drawn. It was given recognition as an authorized stock exchange under the stock exchange act of 1971 act 384 in october 1990. Right of recourse a right of the bill of exchange holder of indemnification since the endorser, the drawer and the giver of an aval failed to pay off the bill of. The act makes the bog the authority responsible for payment and settlement systems in ghana. A ct 55 bills of exchange act, 1961 arrangement of sections part one bills of exchange form and interpretation 1.
Bills of exchange act ghanalegal legal portal for ghana. Appearance before immigration officer on entering ghana 3. An act to confer powers and impose duties and restrictions in relation to gold, currency, securi ties, exchange transactions, payments and debts, and the import, export, transfer and settlement of property, and for purposes connected with the matters aforesaid. There is free and full foreign exchange remitability for the original capital plus all capital gains and related earnings. Download as doc, pdf, txt or read online from scribd. View notes ghana stock exchange securities industry act 2000. Parliament passes fiscal responsibility act to ensure prudent. Where a bill is not payable to bearer, the payee must certainty be named or otherwise indicated therein with reasonable topym. Bank of ghana, the central bank of ghana, has since issued notices providing guidelines on the new foreign exchange act. Click to read all about coronavirus parliament has approved under a certificate of urgency, the fiscal responsibility bill. Ghanas parliament has enacted the value added tax amendment act, 2017 act 948 to amend the value added tax act, 20 act 870. The companies act, 2019 act 992 has been in the works since 2018 and replaces the companies act, 1963 act 179. An act to codify the law relating to bills of exchange, cheques and promissory notes. United nations convention on international bills of exchange and international promissory notes chapter i.
Nonbank financial institutions act, 2008 act 774 companies act, 1963 act 179 bank of ghana notices directives circulars regulations. The crs is implemented in ghana through the standard for automatic exchange of financial account information act, 2018 act 967 herein referred to as the act which was passed on 4th may, 2018. Power to detain a person for further examination 8. The companies code, 1963 act 179 hfc bank ghana limited. Ghana s constitution of 1992 with amendments through 1996. This convention applies to an international bill of exchange when it contains the heading internationalbill of exchange uncitral convention and.
Article 2 certain terms employed in this act shall denote the following. First republic criminal procedure code, 1960 act 30 arrangement of sections section part igeneral provisions procedure 1. Subject to the provisions of this act, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorised signature is wholly inoperative, and no right to retain the bill. Growth forecast at 3%, as imf offers debt relief to most vulnerable nations in africa, asia, middle east and caribbean. Bills of exchange act, sections 74 and 78 joachimson v. Banks are in principle free to act in both spots and forward markets. Subject to the provisions of this act, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorised signature is wholly inoperative, and no right to retain the bill or to give a discharge therefor or to enforce payment thereof against any party thereto can be acquired through or under that signature. The text of the crs together with the commentary have been incorporated into the ghanas domestic law as a schedule. Electronic transactions act, 2008 act of the parliament of the republic of ghana entitled electronic transactions act, 2008 an act to provide for the regulation of electronic communications and related transactions and to provide for connected purposes. News ghana latest updates and breaking news of ghana.
This act may be cited as the exchange control act chapter 22. The act was drafted by sir mackenzie chalmers, who later drafted the sale of goods act 1893 and the marine insurance act 1906 bills of exchange are widely used to finance trade and, when discounted with a financial institution, to obtain credit. The first principal in city a, the deliverer 1, lends money in as domestic currency to the second. Ghana laws police service act 1970 act 350 section 1functions of the service. Immigration act, 2000 act 573 arrangement of sections section part ientry and departure 1.
428 285 85 204 1493 427 734 514 959 1480 97 1074 267 892 913 530 1077 1215 926 1645 20 836 47 695 1454 1655 81 427 1361 1484 1050 1238 1174 1077 1389 876 126 861