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GHANA/ISRAEL TRADE AND PAYMENTS
AGREEMENT ACT, 1959
(NO. 62 OF 1959)
ARRANGEMENT OF SECTIONS
Section
1. Short title.
2. Interpretation.
3. Bank to issue promissory notes.
GHANA
NO. 62 OF 1959.
DATE OF ASSENT
Assented to in Her Majesty's Name
and on Her Majesty's behalf this
21st day of November, 1959.
LISTOWEL
Governor-General.
AN ACT to authorise the issue of
promissory notes under the
Ghana/Israel Trade and Payments
Agreement and to make other
provisions in connection
therewith.
Date of Commencement. [25th
November, 1959.]
BE IT ENACTED by the Queen's Most
Excellent Majesty, by and with the
advice and consent of the National
Assembly of Ghana in this present
Parliament assembled, and by the
authority of the same as follows:—
Section 1—Short Title.
This Act may be cited as the
Ghana/Israel Trade and Payments
Agreement Act, 1959.
Section 2—Interpretation.
In this Act—
"Agreement" means the Ghana/Israel
Trade and Payments Agreement
signed on the fourth day of July,
1958;
"Bank" means the Bank of Ghana;
"Minister" means the Minister
responsible for finance.
Section 3—Bank to Issue Promissory
Notes.
(1) It shall be lawful for the
Bank, on behalf of the Government
of Ghana and with the approval of
the Minister as required under the
Agreement, to issue promissory
notes from time to time in respect
of credits afforded to Ghana by
the Government of Israel under the
Agreement; and the Bank shall meet
the cost of the said notes as and
when they mature, out of monies
provided by Parliament for the
purpose.
(2) Wherever the Bank shall have,
in respect of any such credit as
aforesaid, issued any promissory
notes under the Agreement before
the commencement of this Act, the
said issue shall be deemed to have
been made under the provisions of
this Act.
This printed impression has been
carefully compared by me with the
Bill which has passed the National
Assembly, and found by me to be a
true and correctly printed copy of
the said Bill.
K. B. AYENSU
Clerk of the National Assembly.
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