VOLTA RIVER PROJECT (SUPPLEMENTARY PROVISIONS) ACT - 1962 (ACT 96)

• Section - 1 - Sections 5 And 6 Of Act 25 Not To Apply To Certain Agreements.

  • The provisions of sections 5 and 6 of the Contracts Act, 1960 (Act 25) shall not apply to the agreements specified in the First Schedule hereto, except as otherwise expressly provided therein.

• Section - 2 - Financial Agreements.

  • (1) In the name and on behalf of the Republic, the President may in writing so far as may seem to him expedient in the public interest to do so-
    
    (a) enter into agreements providing for the guarantee of any obligations undertaken by the Volta Aluminium Company Limited; and
    
    (b) enter into agreements providing for loans by the Government of Ghana to the Volta Aluminium Company Limited, as provided in Article 8 of the Master Agreement.
    
    (2) Moneys payable under any agreement referred to in subsection (1) are hereby charged on the Consolidated Fund.

• Section - 3 - Validity Of Certain Agreements.

  • No provision of any agreement specified in the Second Schedule hereto shall be illegal or void by reason of any existing provision or rule of the laws of Ghana other than the Constitution.

• Section - 4 - Interpretation.

  • (1) In this Act, the "Master Agreement" means the Master Agreement entered into between the Government of Ghana and the Volta Aluminium Company Limited in the terms approved by the National Assembly in January, 1962.
    
    (2) The Agreements specified in the Schedules hereto shall have the same meanings as in the Master Agreement.