Volta River Project (Supplementary Provisions) Act, 1962 Act 96 (Revised Edition)

ACT 96
Volta River Project (Supplementary Provisions) Act, 1962
ACT 96
VOLTA RIVER PROJECT (SUPPLEMENTARY PROVISIONS) ACT, 1962
ARRANGEMENT OF SECTIONS
SECTION
1. Sections 5 and 6 of Act 25 not to apply to certain agreements. 2. Financial agreements. 3. Validity of certain agreements. 4. Interpretation. SCHEDULES
FIRST SCHEDULE
SECOND SCHEDULE
ACT 96
VOLTA RIVER (SUPPLEMENTARY PROVISIONS) ACT, 19621
AN ACT to exempt certain agreements relating to the Volta River Project from the
provisions of sections 5 and 6 of the Contracts Act, 1960 (Act 25) and to provide
for certain financial matters connected with the Project. 1. Sections 5 and 6 of Act 25 not to apply to certain agreements
The provisions of sections 5 and 6 of the Contracts Act, 1960 (Act 25) shall not apply
to the agreements specified in the First Schedule, except as otherwise expressly provided
in that Schedule. 2.

acts Act, 1960 (Act 25) shall not apply
to the agreements specified in the First Schedule, except as otherwise expressly provided
in that Schedule. 2.

Financial agreements
(1) in the name and on behalf of the Republic, the President may in writing so far as
may seem to the President expedient in the public interest to do so,
(a) enter into agreements providing for the guarantee of an obligations under
taken by the Volta Aluminium Company Limited; and
(b) enter into agreements providing for loans by the Government to the Volta
Aluminium Company Limited, as provided in Article 8 of the Master
Agreement. (2) Moneys payable under an agreement referred to in subsection (1) are hereby
charged on the Consolidated Fund. 1. The Act was assented to on 20th January, 1962. VII —3951 [Issue 1]

ement referred to in subsection (1) are hereby
charged on the Consolidated Fund. 1. The Act was assented to on 20th January, 1962. VII —3951 [Issue 1]

ACT 96
Volta River Project (Supplementary Provisions) Act, 1962
3. Validity of certain agreements
A provision of an agreement specified in the Second Schedule shall not be illegal or
void by reason of an existing provision of the rule of the laws of Ghana other than the
Constitution. 4. Interpretation
(1) In this Act, the “Master Agreement ” means the Master Agreement entered into
between the Government of Ghana and the Volta Aluminium Company Limited in the
terms approved by the National Assembly in January, 1962. (2) The Agreements specified in the Schedules shall have the same meanings as in
the Master Agreement.

oved by the National Assembly in January, 1962. (2) The Agreements specified in the Schedules shall have the same meanings as in
the Master Agreement.

SCHEDULES
[Section 38]
FIRST SCHEDULE
The Master Agreement
The Power Contract
The Smelter Site Lease
The Water Agreement
The Port Agreement
The Currency Agreement
The Voting Trust Arrangements
The Subscription Agreement
SECOND SCHEDULE
The Master Agreement
The Power Contract
The Smelter Site Lease
The Water Agreement
The Port Agreement
The Currency Agreement
The Voting Trust Arrangements
The Subscription Agreement
The Long Term Tolling Contracts
The Valeo Current Accounts Trust
The Management and Technical Assistance Agreement
The Exim-Valco Loan Agreement
[Issue 1] Vn — 3952

ACT 96
Volta River Project (Supplementary Provisions) Act, 1962
SECOND SCHEDULE—continued
The IBRD Loan Agreement
The AID Loan Agreement
The Exim-Authority Loan Agieement
The U.K. Loan Agieement
A guarantee of any of the preceding Agreements specified in this Schedule or of any
part of such Agreements by the Government of Ghana.
VII — 3953 [Issue 1]