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STATE GOLD MINING CORPORATION
(ACQUISITION OF ASSETS) DECREE,
1967 (NLCD 204)
As amended
STATE GOLD MINING CORPORATION
(ACQUISITION OF ASSETS)
(AMENDMENT) DECREE, 1968 (NLCD
218).1
ARRANGEMENT OF PARAGRAPHS
Paragraph
1. All Properties Belonging to its
Subsidiary Companies are Vested in
the Corporation.
2. Specific Concessions are also
Vested in the Corporation.
3. The Corporation shall Pay
Rents, Royalties, Etc.
4. Every Person who Possesses
Property of the Contracting Party
to Report to the Managing Director
of the Corporation.
5. Penalty.
6. Interpretation.
7. Commencement.
SCHEDULE
Schedule
WHEREAS each of the companies
specified in the first column of
the Schedule hereto (hereafter in
this Decree referred to as "the
contracting party") is a wholly
owned subsidiary company of the
State Gold Mining Corporation
(hereafter in this Decree referred
to as "the Corporation"):
AND WHEREAS the contracting party
has for many years past carried on
the business of gold mining in
Ghana:
AND WHEREAS by an Agreement dated
the 28th day of February, 1966,
and made between the contracting
party and the Corporation, it was
agreed that with effect from the
31st day of December, 1965, the
contracting party shall sell and
the Corporation shall purchase all
the goodwill, undertaking, and
assets of the contracting party on
the terms and conditions contained
in the said Agreement: [As amended
by the State Gold Mining
Corporation (Acquisition of
Assets) (Amendment) Decree, 1968 (NLCD
218), s.1].
AND WHEREAS it is intended that
after the effective and final
transfer of those goodwill,
undertaking and assets to the
Corporation, the contracting party
shall be put into members'
voluntary liquidation:
NOW THEREFORE, in pursuance of the
"Proclamation for the constitution
of a National Liberation Council
for the administration of Ghana
and for other purposes connected
therewith", published in the
Gazette No.11 of Monday, the 28th
February 1966, this Decree is
hereby made.
Paragraph 1—All Properties
Belonging to its Subsidiary
Companies are Vested in the
Corporation.
Subject to the observance and
performance by the Corporation and
the contracting party of the terms
and conditions contained in the
said Agreement all the goodwill,
undertaking and business of the
contracting party, and all its
assets and rights of whatever
nature and wheresoever situate,
including all freehold, leasehold,
minerals, timber and other
interests in any movable and
immovable property, and all plant
and machinery, stock in trade,
investments, cash in hand, and at
banks, book debts, patent and
patent applications and trade
marks, and the full benefit of all
subsisting contracts and policies
of insurance are hereby vested in
the Corporation without any other
assurance than this Decree.
Paragraph 2—Specific Concessions
are also Vested in the
Corporation.
Without prejudice to the general
effect of paragraph 1 of this
Decree the concessions specified
in the second column of the said
schedule are also hereby vested in
the Corporation for all the
unexpired residue of the several
terms of years for which those
concessions were originally
respectively granted to the
contracting party; together with
all rights, easements, profits,
advantages and appurtenances
whatsoever to the said concessions
belonging or appertaining thereto
or with the same usually held,
occupied and enjoyed or reputed to
belong or to be appurtenant
thereto; and all the estate
rights, title, interest, claim and
demand whatsoever of the
contracting party, in, to and upon
the same and every part thereof.
Paragraph 3—The Corporation shall
Pay Rents, Royalties, Etc.
The vesting in the Corporation of
the properties specified under
paragraphs 1 and 2 of this Decree
shall, where necessary, be subject
to the payment of the several
rents and royalties, and
performance and observance of the
covenants, conditions,
stipulations and encumbrances
under which the said properties
were held by the contracting
party.
Paragraph 4—Every Person who
Possesses Property of the
Contracting Party to Report to the
Managing Director of the
Corporation.
(1) It shall be the duty of any
person who is in possession or
control of any property belonging
to the contracting party to notify
in writing within thirty days
after the date on which this
Decree is published in the
Gazette, or as the case may be,
within thirty days after the
property came into his possession
or control, the Managing Director
of the Corporation, to the best of
his knowledge—
(a) the nature of the property,
and
(b) the extent of the property.
(2) Except as the Managing
Director may otherwise direct, no
person shall dispose of any
property referred to in
sub-paragraph (1) of this
paragraph.
Paragraph 5—Penalty.
Any person who contravenes the
provisions of paragraph 4 of this
Decree is guilty of an offence and
is liable on conviction to a fine,
not exceeding Ną2,000.00 or to a
term of imprisonment not exceeding
two years, or to both such fine
and imprisonment.
Paragraph 6—Interpretation.
In this Decree "concessions" and
"certificate of validity" have the
same meanings assigned to them by
section 17 of the Concessions Act,
1962 (Act 124).
Paragraph 7—Commencement.
This Decree shall be deemed to
have come into force on the 31st
day of December 1965.
SCHEDULE
Name of
Company
Description of Concession
Ghana Main Reef
Ltd.
Certificate of Validity No.
786.
Certificate of Validity No. 497.
Certificate of Validity No.
508.
Certificate of Validity No.
494.
Certificate of Validity No.
577.
Certificate of Validity No.
576.
Certificate of Validity No.
578.
Certificate of Validity No.
580.
Certificate of Validity No.
596.
Certificate of Validity No.
579.
Bremang Gold Dredging Co. Ltd.
Certificate of Validity No.
76.
Certificate of Validity No.
77.
Certificate of Validity No.
99.
Certificate of Validity No.
95.
Certificate of Validity No.
96.
Certificate of Validity No.
97.
Certificate of Validity No.
98.
Certificate of Validity No.
94.
Certificate of Validity No.
104.
Certificate of Validity No.
105.
Certificate of Validity No.
563.
Certificate of Validity No.
574.
Certificate of Validity No.
585.
Certificate of Validity No.
593.
Certificate of Validity No.
594.
Certificate of Validity No.
604.
Certificate of Validity No.
614.
Certificate of Validity No.
615.
Certificate of Validity No.
678.
Bibiani (1927) Ltd.
Certificate of Validity No.
27.
Certificate of Validity No.
517.
Certificate of Validity No.
237.
Certificate of Validity No.
736.
Certificate of Validity No.
89.
Certificate of Validity No.
110.
Amalgamated Banket Areas Ltd.
Certificate of Validity No.
112.
Certificate of Validity No.
208.
Certificate of Validity No.
490.
Certificate of Validity No.
77.
Certificate of Validity No.
60.
Certificate of Validity No.
320.
Certificate of Validity No.
347.
Certificate of Validity No.
389.
Certificate of Validity No. 3.
Certificate of Validity No.
209.
Certificate of Validity No.
13.
Certificate of Validity No.
515.
Certificate of Validity No.
483.
Certificate of Validity No.
484.
Certificate of Validity No.
528.
Certificate of Validity No.
485.
Certificate of Validity No.
542.
Certificate of Validity No. 4.
Certificate of Validity No.
570.
Certificate of Validity No.
501.
Certificate of Validity No.
41.
Certificate of Validity No.
62.
Certificate of Validity No.
63.
Certificate of Validity No.
64.
Certificate of Validity No.
65.
Certificate of Validity No.
172.
Certificate of Validity No.
173.
Certificate of Validity No.
46.
Certificate of Validity No.
51.
Certificate of Validity No.
79.
Certificate of Validity No.
101.
Certificate of Validity No.
489.
Certificate of Validity No.
643.
Certificate of Validity No.
645.
Certificate of Validity No.
646.
Certificate of Validity No.
573.
Certificate of Validity No.
584.
Certificate of Validity No.
620.
Certificate of Validity No.
622.
Certificate of Validity No.
623.
Certificate of Validity No.
632
Certificate of Validity No.
633.
Ariston Gold Mines (1929)
Ltd.
Certificate of Validity No.
55.
Certificate of Validity No.
734.
Certificate of Validity No.
504.
Certificate of Validity No.
26.
Certificate of Validity No.
537.
Certificate of Validity No.
609.
Certificate of Validity No.
541.
Certificate of Validity No.
564.
Certificate of Validity No.
612.
Certificate of Validity No.
21.
Certificate of Validity No.
224.
Certificate of Validity No.
222.
Certificate of Validity No.
588.
Certificate of Validity No.
433.
Certificate of Validity No.
377.
Certificate of Validity No.
714.
Ankobra River Power Co. Ltd.
Certificate of Validity No.
624.
LT.-GEN. J. A. ANKRAH
Chairman of the National
Liberation Council
Date of Gazette Notification: 25th
August, 1967.
amended by
STATE GOLD MINING CORPORATION
(ACQUISITION OF ASSETS)
(AMENDMENT) DECREE, 1968 (NLCD
218).1
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