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IN exercise of the powers
conferred on the Chairman of the
Supreme Military Council by
section 41 (4) of the Investment
Policy Decree, 1975, (N.R.C.D.
329) this Instrument is made this
5th day of March, 1976.
Section 1.
Where a company is requested by
the Investment Policy
Implementation Committee to issue
a prospectus for the purpose of
complying with the provisions of
the Investment Policy Decree, 1975
(N.R.C.D. 329), the Companies
Code, 1963 (Act 179) shall apply
in relation to that company
subject to the following
modifications:—
(a) Sub-paragraph (1) (a) of
paragraph 47 of the Seventh
Schedule to the Code shall be
deemed to read as follows:—
"(a) with respect to the profits
or losses of the company in
respect of each of the ten
completed financial years
immediately preceding the
publication of the prospectus, or
in respect of each of the
financial years since
incorporation of the company if
this occurred less than ten years
before such publication; and if
the last financial year of the
company ended more than nine
months before the date of the
publication of the prospectus,
with respect to the profits or
losses from the end of the last
financial year to the latest
practicable date not being more
than six months before the date of
the publication of the prospectus
or such earlier date as the
Investment Policy Implementation
Committee may approve;
(b) Sub-paragraph (1) (c) of
paragraph 47 of the Seventh
Schedule to the Code shall be
deemed to read as follows:—
"(c) with respect to the assets
and liabilities of the company as
at the end of its last financial
year or, if the financial year
ended more than nine months before
the date of the publication of the
prospectus, as at the latest
practicable date not being more
than six months before the date of
publication of the prospectus or
such earlier date as the
Investment Policy Implementation
Committee may approve".
Section 2.
The Investment Policy
(Modification of Companies Code)
Instrument, 1976 (L.I. 1064) is
hereby revoked.
COLONEL I. K. ACHEAMPONG
Chairman of the Supreme Military
Council
Date of Gazette Notification: 5th
March, 1976. |
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