NEW TIMES CORPORATION ACT - 1971 (ACT 363)

    • (1) There is hereby established a body corporate to be known as the New Times Corporation in this Act referred to as "the Corporation."

      (2) The Corporation shall have perpetual succession and a common seal, may sue and be sued in its own name, and may for the purposes of its functions under this Act acquire, hold and dispose of any moveable or immoveable property and enter into any transaction whatsoever.

    • Where there is any hindrance to the acquisition by the Corporation of any property, the property may be acquired for the Corporation under the State Property and Contracts Act, 1960 (CA 6) or as the case may be, under the State Lands Act, 1962 (Act 125), and each such Act shall, as the case may be, apply in relation to any such acquisition with such modifications as may be necessary to provide for the vesting of the property acquired thereunder in the Corporation and for the cost of such acquisition to be defrayed by the Corporation.

    • (1) The governing body of the Corporation shall be a Board.

      (2) The Board shall consist of-

      (a) a Chairman and not less than four nor more than ten persons appointed by the President acting in consultation with the Council of State; and

      (b) the person appointed Managing Director under section 9 of this Act.

    • (1) No person shall be qualified to be a member of the Board who has been sentenced to death or to a term of imprisonment exceeding twelve months without option of a fine or has been convicted of an offence involving dishonesty or moral turpitude and has in each case not been granted a free pardon.

      (2) No person shall be qualified to be a member of the Board if having been declared as an insolvent or bankrupt under any law for the time being in force in Ghana or in any other country is an undischarged insolvent or bankrupt.

      (3) The members of the Board other than the Managing Director shall hold office for one year.

      (4) Any member of the Board other than the Managing Director may resign his office by notice in writing addressed to the Minister and without prejudice to the general effect of subsections (1) and (2) of this section, any member of the Board may be removed from office by the President acting in consultation with the Council of State.

      (5) Where the office of a member of the Board other than the Managing Director becomes vacant under subsection (1), (2) or (4) of this section before the expiration of his term of office under subsection (3) of this section or by his death, the Minister shall notify the Prime Minister of the occurrence of such event and the President shall, acting on consultation with the Council of State and subject to the provisions of this Act, appoint another person in his place and to hold office for the unexpired portion of his term of office.

      (6) Subject to the provisions of this Act where it appears to the Prime Minister on the recommendation of the Minister that any member of the Board is unable by reason of absence from Ghana or illness or any other sufficient cause from performing the duties of his office the President acting in consultation with the Council of State shall appoint another person to hold office in his place until such time as the Prime Minister is satisfied that that person is again able to perform such duties or until the term of such member expires, whichever first occurs.

      (7) Every member of the Board shall, on ceasing to be a member be eligible for re-appointment.

    • Any member appointed to the Board under subsection (2) (a) of section 5 of this Act as well as any person co-opted to the Board under section 8 of this Act may be paid such remuneration (if any) as the Board may, with the approval of the Minister, and the Minister responsible for Finance determine in relation to him.

    • (1) The Board shall ordinarily meet for the despatch of business at such times and at such places as the Board may determine but shall meet at least once in every month.

      (2) A special meeting of the Board shall be called upon a written request signed by the Chairman or by a majority of the members of the Board addressed to the Secretary of the Corporation.

      (3) At every meeting of the Board at which he is present, the Chairman shall preside and in his absence a member of the Board appointed by the members present from among themselves, shall preside.

      (4) Questions proposed at a meeting of the Board shall be determined by a simple majority of members present and voting and in the event of any equality of votes the person presiding shall have a second or casting vote.

      (5) The quorum at any meeting of the Board shall be four, or half the number of members of the Board whichever is the greater.

      (6) The Board may, at any time co-opt any person or persons to act as an adviser or advisers at any of its meetings so, however, that no person so co-opted shall be entitled to vote at any such meetings on any matter for decision by the Board.

      (7) The validity of any proceedings of the Board shall not be affected by any vacancy among its members or by any defect in the appointment of any of them.

      (8) Any member of the Board who has any interest in any company or undertaking with which the Corporation proposes to make any contract or who has any interest in any contract which the Corporation proposes to make shall, disclose in writing to the Board the nature of his interest and shall, unless the Board otherwise directs, be disqualified from participating in any deliberations of the Board on the contract and shall in any case be disqualified from voting in any decision of the Board on such contract and any member who infringes the provisions of this subsection shall be liable to be removed from the Board.

      (9) The Board shall cause to be recorded and kept minutes of all proceedings of its meetings in such manner and form as the Minister may in writing direct.

    • (1) The Board shall, subject to the provisions of this Act, have general control of the management of the Corporation on matters of policy.

      (2) The Corporation shall have a Managing Director.

      (3) Subject to the provisions of Part III of this Act the Managing Director shall be appointed by the President acting in consultation with the Council of State, and subject to the said provisions shall hold office upon such terms and conditions as may be specified in his instrument of appointment.

      (4) Where the office of the Managing Director becomes vacant the Board shall notify the Minister thereof and the Minister shall in turn notify the Prime Minister of the occurrence of the vacancy.

      (5) Where the Managing Director is incapacitated from the performance of his functions under this Act the Board may, subject to subsection (6) of section 6 of this Act authorise any senior employee of the Corporation to perform those functions for the duration of the incapacity.

      (6) Subject to the provisions of this Act, the Managing Director shall be the Chief Executive of the Corporation and shall, subject to the general control of the Board on matters of policy, and subject in particular to such rules as the Board may make in that behalf under section 26 of this Act, be charged with the direction of the day-to-day business of the Corporation and of its administration and organisation and control of all the employees of the Corporation.

      (7) Subject as aforesaid the Managing Director may delegate to any employee of the Corporation any of his functions under this Act and may impose such conditions with respect to the exercise of such delegated functions as he may think fit:

      Provided that nothing in this subsection shall be construed so as to absolve the Managing Director from ultimate responsibility for any act than by any person in pursuance of any such delegation.

    • (1) The Corporation may from time to time engage such employees as may be necessary for the proper and efficient conduct of the business and functions of the Corporation.

      (2) The Corporation may also engage the services of such consultants and advisers as the Board may upon the recommendation of the Managing Director determine.

      (3) Subject to any delegation effected under clause (2) of article 140 of the Constitution and subject also to the other provisions of the Constitution the employees of the Corporation, other than the Managing Director, shall be appointed by the President acting in accordance with the advice of the Public Services Commission.

      (4) Subject to the provisions of the Constitution the employees, consultants and advisers of the Corporation shall be engaged on such terms and conditions as the Board may on the recommendations of the Managing Director determine.

      (5) Public Officers may be transferred or seconded to the Corporation or may otherwise give assistance thereto.

    • (1) The Corporation shall have an officer to be designated as the Secretary of the Corporation.

      (2) The Secretary shall act as Secretary to the Board and shall, subject to the directions of the Board, arrange the business for and be responsible for the recording and keeping of minutes of proceedings of the meetings of the Board.

      (3) The Secretary shall as soon as practicable after each meeting of the Board forward to the Minister a copy of the minutes of that meeting.

      (4) The Secretary shall also perform such functions as the Board may by writing direct or as the Managing Director may by writing delegate to him and shall be assisted in his functions by such of the staff of the Corporation as the Board may on the recommendations of the Managing Director direct.

    • (1) The Corporation shall have an Internal Auditor.

      (2) Subject to the provisions of this Act, the Internal Auditor shall be responsible to the Managing Director for the performance of his functions.

      (3) As part of his functions under this Act the Internal Auditor shall, at intervals of three months, prepare a report on the Internal Audit work carried out by him during the period of three months immediately preceding the preparation of the report, and submit the report to the Managing Director.

      (4) Without prejudice to the general effect of subsection (3) of this section, the Internal Auditor shall make in each report such observations as appear to him necessary as to the conduct of the financial affairs of the Corporation during the period to which the report relates.

      (5) The Internal Auditor shall send a copy of each report prepared by him under this section to the Minister and also to each of the following:-

      the Minister responsible for Finance,

      the Auditor-General, and

      the Chairman of the Board of Directors.

    • The Government may provide to the Corporation as working capital and also as moneys required for carrying out the functions of the Corporation such sums as the Minister may after consultation with the Cabinet agree, being sums requested by the Board from the Government.

    • The Board shall not less than one month before the commencement of each financial year cause to be prepared in such form as the Minister may direct estimates of revenue and expenditure for that financial year and shall as soon as possible after they are prepared submit a copy of the estimates to the Minister.

    • (1) The Corporation shall have a staff welfare fund.

      (2) At the end of each financial year, the Corporation shall transfer to the staff welfare fund such sum, not exceeding 5 per cent of the net profits of the Corporation as the Board may determine.

      (3) The Corporation may, with the approval of the Minister, use the staff welfare fund for the provision of staff welfare facilities such as canteens, low interest bearing staff welfare loans and for other purposes aimed at enhancing the welfare of the staff of the Corporation.

      (4) The operation of the staff welfare fund shall be subject to such specific rules and regulations as may be made by the Board.

    • (1) The Corporation shall have a depreciation fund and for that purpose the Corporation shall open a Depreciation Reserve Account with the Bank of Ghana.

      (2) At the end of each financial year, the Corporation shall transfer to the credit of the Depreciation Reserve Account all amounts charged to profit and loss account in respect of depreciation for buildings, plant and equipment, fixtures and other fixed assets.

      (3) Amounts so transferred to the Depreciation Reserve Account shall be utilised only to replace fixed assets and equipment which are worn out or have become obsolete.

      (4) Expenditure in respect of current repairs and in respect of purchases of spare parts shall not be met out of the Depreciation Reserve Account but shall be charged to the income and expenditure account of the Corporation for the financial year during which the expenditure is incurred.

    • Subject to section 4 of this Act at the end of each financial year, after the Corporation has made provision for bad and doubtful debts, depreciation of assets, contributions to staff and superannuation funds and for other contingencies, if any, and after appropriation has been made to the staff welfare fund under section 16 of this Act such part of the profits of the Corporation remaining as the Minister after consultation with the Board and with the Minister responsible for Finance may by writing direct shall be paid into the Consolidated Fund.

    • (1) The Corporation may obtain loans and other credit facilities, on the guarantee of the Government from the National Investment Bank or from such other Bank as the Minister and the Minister for Finance may approve.

      (2) Apart from the powers of the Corporation under subsection (1) of this section, the Corporation may, with the prior approval of the Minister and the Minister responsible for Finance borrow money from any other source.

      (3) For the purpose of any technical arrangements in connection with the raising of any loan under subsection (2) of this section the Corporation shall, if the National Investment Bank agrees, use the services of that Bank.

      (4) The Corporation may borrow temporarily by way of overdraft or otherwise, such sums as it may require for meeting its current obligations or discharging its functions.

      (5) The Minister responsible for Finance may on behalf of the Government, guarantee the performance of any obligation or undertaking by the Corporation under this section.

      (6) The Minister responsible for Finance may from time to time prescribe the maximum sums which the Corporation may borrow under subsection (1) or (2) of this section.

    • The Corporation shall keep proper books of account and proper records in relation thereto and the account books and records of the Corporation shall be in such form as the Auditor-General may approve.

    • The Board shall cause to be submitted to the Minister as soon as possible after the months of June, September, December and March in each year a statement showing the revenue and expenditure of the Corporation and fluctuations in the number of persons in employment of the Corporation during the three months immediately preceding and the revenue and expenditure for the corresponding period in the year immediately preceding.

    • (1) The Board may make bye-laws or other instruments for the purpose of carrying into effect the provisions and principles of this Act and for regulating any matter falling within the scope of the functions of the Corporation or which is required or authorised by this Act to be provided for by any such instruments.

      (2) Without prejudice to the general effect of subsection (1) of this section, the Board may, subject to the provisions of the Constitution and also to the provisions of the Social Security Act, 1965 (Act 279) make bye-laws or other instruments under that subsection for providing the conditions of service of the staff of the Corporation including, if the Board thinks fit, the operation of a contributory provident fund.

    • The Corporation shall be exempted from such taxes and duties as the Minister responsible for Finance may, by writing direct.

    • In this Act, "Minister" means the Minister responsible for Information.

    • (1) The Company known immediately before the commencement of this Act as the New Times Limited is hereby dissolved.

      (2) All assets, property, rights, liabilities and obligations of the said company are hereby transferred to the Corporation established by this Act.

      (3) The National Newspapers (Guinea Press Limited) (Interim Reconstitution) Decree, 1968 (N.L.C.D. 230) is hereby repealed.