BANK OF GHANA ACT - 2002 (ACT 612)

    Section - 14 - Meetings of the Board

    (1) The Governor shall summon meetings of the Board as often as may be required but not less frequently than once in each month.

    (2) The Governor shall preside at the meetings of the Board and

    (a) in the absence of the Governor, the First Deputy Governor shall preside, or

    (b) in the absence of the Governor and the First Deputy Governor, the Second Deputy Governor shall preside.

    (3) The quorum for a meeting of the Board shall be six members including the Governor or a Deputy Governor.

    (4) A member who has an interest, whether direct or indirect, in a matter that is being considered or dealt with by the Board shall disclose in writing to the Board the nature of that interest and shall not participate in a discussion or decision of the Board on that matter.

    (5) Where a member fails or refuses to disclose his or her interest under sub-section (4), the member shall cease to be a member.

    (6) Decisions of the Board shall be determined by a simple majority of the members present and voting except that where there is an equality of votes on an issue before the Board, the person presiding shall have a casting vote.

    (7) The Board may, where it considers it fit, invite a person to assist at its meeting but a person so invited is not entitled to vote at that meeting on a matter for decision by the Board.

    (8) The validity of the proceedings of the Board shall not be affected by a vacancy among its membership or by a defect in the appointment or qualification of any of the members.

    (9) An act done by a member acting in good faith as a member is valid, notwithstanding a defect in the appointment or qualification of that member.

    (10) Except as otherwise provided in this section, the Board shall determine the procedure for its meetings.