Ghanaian Enterprises Development Act, 1975 (N.R.C.D. 330)

Section 3B (1): The capital or any other proprietary interest, in a specified enterprise which has not been dulytransferred to a citizen by the 1st day of July, 1976 shall, on that date vest in the Commission.(2) The Commission(a) may take over and manage a specified enterprise to which subsection (1) applies until thewhole of the capital or the other proprietary interest in the specified enterprise has beentransferred to that citizen, and(b) shall take the reasonable steps that would ensure the orderly transfer of the capital or interestto the citizen and the due payment by the citizen to the owners of the capital or interest of theappropriate price fixed in relation to the capital.11(11)(3) The Commission may defray from the assets of the enterprise the reasonable costs incurred by itunder subsection (2).(4) Neither the Commission nor an agent of the Commission is liable to a person in respect of an actdone by it or that person in good faith for the purpose of subsection (2).(5) Where twelve months after the capital or the other proprietary interest in a specified enterprise hasvested in the Commission under subsection (1), the Commission has, after reasonable efforts to that end,not been able to dispose of the capital or the other proprietary interest to a citizen, the Board shall disposeof it in the manner that it considers reasonable and shall, after negotiation with the owner of the specifiedenterprise, pay in respect of the capital or proprietary interest the compensation determined by theBoard.12(12)

Procedures to Follow

Not Avaiable

Responsible Institution

Ministry of Trade and Industry


Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable