STATUTORY CORPORATIONS ACT - 1964 (ACT 232)

• Section - 1 - Power To Establish Statutory Corporations.

  • The President may, by legislative instrument, provide for the establishment as a body corporate-
    
    (a) of an existing organisation or body, not being already a body corporate; or
    
    (b) of a new organisation or body:
    
    Provided that an existing organisation or body shall not be so established unless it was originally constituted by or under the authority of a Minister or is required to act in accordance with directions given by a Minister or is otherwise under Government control.

• Section - 2 - Matters For Which An Instrument May Provide.

  • (1) An instrument made under the foregoing section may make provision for such incidental or supplementary matters as appear to the President to be necessary or expedient for or in connection with the establishment and functioning of the corporation.
    
    (2) The incidental or supplementary matters referred to in the foregoing subsection include-
    
    (a) the name of the corporation and the composition and functions of the corporation and its governing body;
    
    (b) the staff of the corporation (including the transfer to the corporation of public officers), their remuneration, pensions and allowances;
    
    (c) the application or continued application as respects any person employed by the corporation of any enactment relating to pensions, with or without modifications;
    
    (d) the provision of finance for the corporation, including the provision thereof out of moneys provided by the National Assembly or charged upon the Consolidated Fund;
    
    (e) the exemption of the property and activities of the corporation from any tax, rate or duty, subject to the prior approval of the Minister responsible for administering the enactment which authorises the tax, rate or duty;
    
    (f) the application of any enactment relating to the compulsory acquisition of land or any other property, with or without modifications; and
    
    (g) the making of bye-laws or other instruments by the corporation to regulate matters falling within the scope of its functions.
    
    (3) Where provision is made in an instrument for the transfer of public officers to a corporation, the employment of such officers by the corporation shall be deemed to be approved employment for the purposes of any enactment relating to the transfer of such officers from the Public Service.
    
    (4) Where an existing organisation or body is established as a corporation by an instrument made under section 1 of this Act, then, without prejudice to the generality of subsection (1) of this section the instrument may provide for transferring to the corporation the assets and liabilities of the existing organisation or body.

• Section - 3 - General Powers Of A Corporation.

  • Every corporation established under this Act-
    
    (a) shall have perpetual succession and a common seal;
    
    (b) may sue and be sued in its own name;
    
    (c) subject to the provisions of the instrument by which it was established shall have power, for any purpose which, in the opinion of its governing body, is necessary or expedient for or in connection with the proper exercise of the functions of the corporation, to acquire and hold any movable or immoveable property, to sell, lease, mortgage or otherwise alienate or dispose of any such property, and to enter into any other transaction.

• Section - 5 - Existing Corporations.

  • (1) Any corporation established by an Act and any corporation established by an instrument made under the said Statutory Corporations Act, 1961, being in either case a corporation which is in existence immediately before the coming into operation of this Act, shall on and after the relevant date continue in existence as a corporation established by an instrument made under section 1 of this Act; and accordingly any Act or instrument by which such a corporation is established shall on the relevant date be deemed to be repealed or revoked (as the case may be).
    
    (2) For the purpose of continuing any such corporation in existence the President shall have power, by legislative instrument, to make such provisions as appear to him necessary or expedient for that purpose and any instrument made for such purpose shall be deemed to be an instrument made under section 1 of this Act.
    
    (3) For the purposes of this section a corporation shall be regarded as being continued in existence, notwithstanding that the name or the composition of the corporation is changed, if the object and functions of the corporation as continued remain substantially the same as the objects and functions of the corporation as originally established.
    
    (4) In this section the expression "the relevant date" means the date of the coming into operation of a legislative instrument made for the purpose mentioned in subsection (2) of this section.

• Section - 6 - Marketing Corporations.

  • (1) In the case of a corporation established or continued in existence under this Act, being a corporation which has as one of its objects the regulation of the marketing or export of any foodstuff, product or article, the President shall, without prejudice to his powers under section 1 or section 5 of this Act, have power, in the instrument establishing or continuing in existence the corporation,-
    
    (a) to provide for the manner in which the price of such foodstuff, product or article is to be determined;
    
    (b) to provide that no person shall sell or buy such foodstuff, product or article except in accordance with the terms of the instrument; and
    
    (c) to make such other provisions as appear to him to be necessary or expedient for the purpose of enabling the corporation effectively to perform its functions in connection with the regulation of such marketing or export; and for that purpose to make provisions affecting persons generally or any class or description of person specified in the instrument.
    
    (2) An instrument made under the foregoing subsection may create offences for the contravention of any of its provisions and may provide a penalty therefor, so however, that the penalty for any one such offence shall not exceed, in the case of a fine, one thousand pounds, or in the case of imprisonment, a term of one year, or both such fine and imprisonment.

• Section - 7 - Repeal And Saving.

  • (1) The Statutory Corporations Act, 1961 (Act 41), is hereby repealed.
    
    (2) Notwithstanding the said repeal any instrument made under that Act and in force immediately before the commencement of this Act shall continue in force until revoked under section 4 or section 5 of this Act.