GHANA/ISRAEL TRADE AND PAYMENTS AGREEMENT ACT - 1959 (NO. 62 OF 1959)

• Section - 1 - Short Title

  • This Act may be cited as the Ghana/Israel Trade and Payments Agreement Act, 1959.

• Section - 2 - Interpretation

  • In this Act-
    
    "Agreement" means the Ghana/Israel Trade and Payments Agreement signed on the fourth day of July, 1958;
    
    "Bank" means the Bank of Ghana;
    
    "Minister" means the Minister responsible for finance.

• Section - 3 - Bank To Issue Promissory Notes

  • (1) It shall be lawful for the Bank, on behalf of the Government of Ghana and with the approval of the Minister as required under the Agreement, to issue promissory notes from time to time in respect of credits afforded to Ghana by the Government of Israel under the Agreement; and the Bank shall meet the cost of the said notes as and when they mature, out of monies provided by Parliament for the purpose.
    
    (2) Wherever the Bank shall have, in respect of any such credit as aforesaid, issued any promissory notes under the Agreement before the commencement of this Act, the said issue shall be deemed to have been made under the provisions of this Act.