|
TRANSFER OF ASSETS (GIHOC SUGAR
ESTATES) DECREE, 1973 (NRCD
169)
ARRANGEMENT OF SECTIONS
Section
1. Assets and Liabilities of the
Sugar Estates at Komenda and
Asutuare are Transferred to Ghana
Sugar Estates Ltd.
2. Commissioner may take Measures
Incidental to the Transfer.
3. Commencement.
SCHEDULE
Schedule
WHEREAS in furtherance of the
general economic policy of the
National Redemption Council of
promoting self-reliance, the
Government is desirous of
rehabilitating the sugar industry
in Ghana, and has accordingly
requested the International
Development Association for
assistance in financing the
rehabilitation of the sugar
estates and factories in Komenda
and Asutuare respectively:
AND WHEREAS for this purpose a
company known as the Ghana Sugar
Estates Limited has been
established to take over all the
assets and current liabilities
(excluding overdrafts) of the
Ghana Industrial Holding
Corporation relating to the said
sugar estates and factories at
Komenda and Asutuare respectively:
NOW, THEREFORE, in pursuance of
the provisions of the National
Redemption Council (Establishment)
Proclamation, 1972, this Decree is
hereby made:
Section 1—Assets and Liabilities
of the Sugar Estates at Komenda
and Asutuare are Transferred to
Ghana Sugar Estates Ltd.
(1) With effect from the
commencement of this Decree, and
notwithstanding anything to the
contrary, there shall be
transferred to the Ghana Sugar
Estates Limited all the assets and
current liabilities (excluding
overdrafts) of the Ghana
Industrial Holding Corporation
relating to the sugar business
operated by the Sugar Division of
the said Corporation at Komenda
and Asutuare respectively.
(2) Without prejudice to the
generality of subsection (1) of
this section, there are hereby
vested in the said Ghana Sugar
Estates Limited, free from all
encumbrances whatsoever, the two
sugar-cane estates (which form
part of the assets referred to in
subsection (1) of this section)
described in the Schedule to this
Decree, for the terms specified
therein respectively.
(3) The Ghana Sugar Estates
Limited shall have full, exclusive
and uninterrupted possession of
the said sugar-cane estate at
Komenda during the said term of
years, and shall be entitled to
carry on the business of
sugar-cane production and
processing thereon.
Section 2—Commissioner may take
Measures Incidental to the
Transfer.
The Commissioner responsible for
Industries shall take all such
measures as may appear to him to
be reasonably incidental to the
said transfer, and accordingly for
that purpose the Commissioner may
give such directions as he may
consider necessary and it shall be
the duty of any person concerned
to comply with such directions.
Section 3—Commencement.
This Decree shall come into force
on such day as the Commissioner
responsible for Industries may by
legislative instrument appoint.
SCHEDULE
(a) Freehold title to the
sugar-cane estate at Asutuare
comprising approximately 18,730
acres, situated and lying about 40
miles north-east of Accra,
adjacent to the Volta River below
the Akosombo Dam, together with
the sugar-cane factory situated
thereon; and
(b) Leasehold title for a term of
50 years from the date of
commencement of this Decree, to
the sugar-cane estate at Komenda
comprising approximately 5,705
acres situated and lying about 120
miles west of Accra, adjacent to
the coast together with the
sugar-cane factory situated
thereon.
Made this 24th day of March, 1973.
COLONEL I. K. ACHEAMPONG
Chairman of the National
Redemption Council
Date of Gazette Notification: 30th
March, 1973.
|
