Licensed Buying Agents (Control) Act, 1972 🇬🇭

Ghana

N.R.C.D. 56

Licensed Buying Agents (Control) Act, 1972

Published in Government Gazette on 13 April 1972
Assented to on 29 March 1972
Commenced on 13 April 1972
[This is the version of this document from 13 April 1972.]

AN ACT to provide for the payment to farmers of cocoa bought by buying agents and for related matters

1. Payment of moneys by buying agents

The moneys due from a licensed buying agent of the Ghana Cocoa Marketing Board to a cocoa farmer immediately before the commencement of this Act, in respect of cocoa purchased from that farmer, shall be paid to the farmer within three months after the commencement of this Act or a longer period that the President may in exceptional cases direct.

2. Forfeiture of assets on non-payment

(1)Where a licensed buying agent fails to comply with section 1, the assets belonging to the licensed buying agent are forfeited to the Republic and to the value of the extent of the indebtedness of the buying agent.

(2)The President shall take the necessary steps…

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