Companies act 2019 company law law llb gimpa studocu. The departments mission is to ensure efficient and effective administration of entities interalia the registration of businesses, industrial property, marriages, administration of estates and public trust. Ghana has one gas processing plant located at atuabo in the western region, operated by the ghana national gas company ghana gas. This post highlights key provisions in the new companies act. Companies and partnerships compared a a company can be created only by certain prescribed methods most. A company is a corporation an artificial person created by law. Ghana has a new companies act the companies act 2019 act. Ghana school of law students facilities and societies 67 3. Our companies code, 1963 act 179 later to be known as an act, pursuant to the laws of ghana revised edition act, 1988 act 562 has inspired. Ghana has a new companies act the companies act 2019 act 992 on 2 august 2019, the president of the republic of ghana nana addo dankwaakufoaddo announced that the long awaited ghana companies act, 2019 had been assented into substantive law. Banks and specialised deposit act 2016 bank of ghana.
Ghana has a new companies act the companies act 2019. On 2 august 2019, the president of the republic of ghana nana addo dankwaakufoaddo announced that the long awaited ghana companies act, 2019 had been assented into substantive law. All you need to know about the new companies act article. Hi fellow law students, here i am sharing lecture notes in ebook format pdf for the subject company law for llb and ba. During the time i served as legal director and company secretary for kasapa telecom later expresso telecom and subsequently dolphin telecom, i started this this highly successful companyfunded. Ghana has a new companies act the companies act 2019 act 992 on 2 august 2019, the president of the republic of ghana nana addo dankwaakufoaddo announced that the long awaited ghana. On friday 2nd august 2019, his excellency nana akuffoaddo, president of the republic of ghana gave his assent to the new companies act, act 992, replacing the old companies act of 1963. The act draws on the experience of more developed jurisdiction and specifically incudes international best practices from jurisdictions such as the united kingdom, new zealand, south africa and mauritius. In deciding matters that come up for adjudication, the courts interpret and apply the companies act. Presence of directors in ghana section 189 1 of the companies act, 1963 act 179 requires that at least one director of every company must be present at all times in ghana. The only ongoing constitutional document of companies.
Reliable information about the coronavirus covid19 is available from the world health organization current situation, international travel. Companies code, 1963 act 179 as amended arrangement of sections section chapter ipreliminary 1. Short title this act may be cited as the companies amendment act, 2019. The companies act, 2019 act 992 has been in the works since 2018 and replaces the companies act, 1963 act 179. Revised company income tax selfassessment estimate form. The companies amendment act, 2019 received the assent of the president on the 31st july, 2019.
Companies act 71 of 2008 english text signed by the president assented to. While introducing the bill in the lok sabha, the honble finance and corporate affairs minister, nirmala. Ghana gas is a subsidiary of the ghana national petroleum corporation gnpc, a stateowned entity tasked with reducing ghana. Ghanas new companies act 2019 passed, this is what to expect. Ghana legal system an overview sturm college of law. Energy laws and regulations ghana laws and regulations.
A partner in a firm is an agent of the firm, which will be bound by his acts. The companies ordinance, 1907 was first companies legislation to be enacted in the then. In the end, the companies code, 1963 act 179, now referred to as the companies act, owing to the provisions of the laws of ghana revised edition act, 1998 act 562, was passed. The new companies act, act 992 is expected to reform company practice in ghana. There is only one parliament, which exercises all primary legislative functions. Pursuant to section 24 of the companies code, 1963 act 179 the. Since the banking and financial laws of ghana 19611998 was published in 2001, staff have attested to its benefits in various ways, and there continues to be strong demand for copies. Geography the republic of ghana, commonly known as ghana, is located in west africa, with a 539 km coastline on the gulf of guinea. The companies code 1963 act 179 regulations of hfc bank ghana limited 1 the name of the company is hfc bank ghana limited 2 the businesses which the company is authorized to.
Pdf directors duties under the 2019 ghanaian companies act. The new companys law enhances protection of minority shareholders. A partner in an ordinary partnership can be made liable without limit for the debts and obligations of the firm. Construction of references in other acts to companies registered under the companies consolidation act, 1908. Act 651 7 the six hundred and fiftyfirst act of the parliament of the republic of ghana entitled labour act, 2003 an act to amend and consolidate the laws relating to labour. At a very high level, the new act seeks to introduce improved corporate governance standards for companies operating in ghana. Section 5prohibition of partnerships exceeding 20 members no company, association or partnership consisting of more than twenty persons shall be formed for the purpose of carrying on any business. Act 930 banks and specialised deposittaking institutions act, 2016 8 application of act 179 2.
Ghana free zones act 1995 act 504 ghana investment act ghana standards board food, drugs and other goods general labelling rules, 1992 mercury act, 1989 the millennium development authority act, 2006 weights and measures act, 1975. View company law in ghana complete from business bachelor o at university of cape coast,ghana. Name the name of the company is indepthnetwork hereinafter called the. The giant indian companies may include the names like reliance, talco bajaj auto, infosys technologies, hindustan lever ltd. Checklist for incorporation in ghana a nonghanaian who wishes to invest in ghana must first incorporate a company in. Constitution of the republic of ghana amendment act, 1996. This second volume banking and financial laws of ghana 19982006 is a compendium of banking and financial laws passed in ghana.
The new companies act, act 992 undoubtedly will reform company practice in ghana. Companies act of ghana legal documents constitutional. On friday 2nd august 2019, president nana akuffoaddo, gave his assent to the new companies act, act 992, replacing the old companies act of 1963. Creation of the office of the registrar of companies the companies act, 2019. Companies act 2006 changes the documentation of company constitutions. Ghana s companies act, 2019 has been in the works since 2018 and replaces the companies act, 1963 act 179. Duties of liquidator section 36 to 42 of act 180 conversion of private liquidation to official liquidation. Arrangement of sections section part i preliminary 1.
Section 179, companies act, 1963 act 179 and section 17 0, companies act, 2019 act 992 directors duties under the 2019 ghana co mpanies act draft article 3. In line with ghanas commitment to use transparency as a tool for fighting corruption. A company thus has legal rights and obligations in the same way that a natural person does. Key changesimprovements in the new companys act, 2019. The companies act the act is the first pillar of company law in ghana. Part ii incorporation of companies and matters incidental thereto 5. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies.254 273 908 36 517 23 768 29 486 336 111 1270 674 1296 1444 318 1272 924 830 1003 1445 71 1330 1533 1451 1369 967 965 1294 937 627 1387 20 1004 167 1050 132 832 1157 880 90 1396 1113 1137