AGRICULTURAL DEVELOPMENT CREDIT AND CO-OPERATIVE BANK ACT - 1965 (ACT 286)

Section - 2 - Share Capital and its Issue

The authorised share capital of the Bank shall be thirty million New Cedis divided into one hundred and fifty thousand shares of a nominal value of two hundred New Cedis each to be issued on the authority of the Board of Directors.[As substituted by Agricultural Development Bank Act, 1965 (Amendment) Decree 1967 (NLCD 182) s. 3].

(2) Not less than fifty-one per centum of the shares issued at any time shall be subscribed by the Government and the remaining shares, if any, shall be offered to the Bank of Ghana, Commercial Banks, Councils established under the Local Government Act, 1961 (Act 54), co-operative societies, and other institutions approved by the Minister, in such proportion and on such terms and conditions as the Minister may determine at the time of each issue.