Borrowers and Lenders Act, 2020 🇬🇭

Ghana 18 Citing Cases

Republic of Ghana

The one thousand and fifty-second

Act

of the parliament of the republic of ghana

entitled

Borrowers and Lenders Act, 2020

Published by Government Gazette on 29 December 2020
Assented to on 29 December 2020
Commenced on 29 December 2020

AN ACT to regulate transactions between borrowers and lenders, to establish a Collateral Registry, to provide a legal framework for the registration and enforcement of security interests in collateral, to establish an order of priority of security interests, to provide for credit agreements generally and provide for related matters.PASSED by Parliament and assented to by the President

Application, Creation of Security Interest and Credit Agreement

1. Application with respect to security interest

(1)This Act applies to a security interest other than a security interest mentioned in subsection (3), and includes

(a)a credit agreement that provides for a security interest in property;

(b)the creation of a security interest, the effectiveness of a secur…

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