GHANA NATIONAL TRADING CORPORATION (VESTING OF PROPERTIES) ACT - 1991 (PNDCL 315)

    • Despite anything to the contrary, the lands and buildings specified in the First Schedule to this Act are hereby transferred to and vested in the Ghana National Trading Corporation as from the date of the incorporation of the Corporation.

    • Despite anything to the contrary, the lands and building specified in the Second Schedule which were held by A.G. Leventis and Company Limited on the date of the purchase of A.G. Leventis and Company Limited by the Government are hereby transferred to and vested in the Corporation as from the date of the purchase.

    • Where a lease in respect of property to which section 1 or 2 applies has expired and the property is occupied by the Corporation, despite the expiration of the lease, the property vests in the Corporation.

    • The assets of A.G. Leventis and Company Limited other than those specified in section 2 held by a person for or on behalf of A.G. Leventis and Company Limited immediately before the commencement of this Act are hereby transferred to and vested in the Corporation.

    • A person who holds assets to which section 4 applies shall immediately notify the Minister in writing to the Minister the holding by that person of those assets stating to the best of that person's knowledge the nature and extent of the assets.

    • Subject to section 7, an action shall not be brought or proceeded with by a person against the Republic, the Lands Commission, the Corporation, or any other person in respect of an action taken or act done in pursuance of the provisions of section 1, 2, 3, or 4.

    • Article 20 of the Constitution (which relates to the determination of matters of compensation for land acquired by the Government, an organ of the Government or a public corporation) shall with the modifications that are necessary, apply to the lands referred to in sections 1, 2 and 3.

    • The Minister may, by executive instrument, add to the Schedule or exclude from the application of this Act, property to which this Act would otherwise have applied.

    • A person who

      (a) makes a statement for the purposes of this Act which that person knows to be false or does not have reasonable grounds to believe is true,

      (b) refuses or without reasonable excuse fails to hand over an asset referred to in section 4 when required to do so by the Minister or a person authorised for that purpose by the Minister,

      (c) otherwise obstructs the Minister or a person authorised by the Minister in the recovery of any of those assets, or

      (d) otherwise contravenes a provision of this Act,
      commits an offence and is liable on conviction to a fine not exceeding two hundred and fifty penalty units or to a term of imprisonment not exceeding one year or to both the fine and the imprisonment.

    • In this Act, unless the context otherwise requires,

      "Corporation" means the Ghana National Trading Corporation;

      "Minister" means the Minister responsible for Trade and Industry.