COMPANIES ACT - 1963 (ACT 179)

    Section - 315 - Control of Public Invitations relating to other Non-Ghanaian Companies

    (1) For the purposes of this and the following section the expression "non-Ghanaian Company" means any association incorporated or to be incorporated outside Ghana not being an external company as defined in section 302 of this Code.

    (2) If any person makes in Ghana any invitation to the public which is either,

    (a) a general invitation, as defined by section 276 of this Code, to acquire any shares or debentures of a non-Ghanaian company, or

    (b) an invitation to deposit money with any non-Ghanaian company for a fixed period or payable at call whether bearing or not bearing interest,

    then, subject as hereinafter mentioned, the provisions of Part W of Chapter II and Part A of Chapter IV of this Code shall apply as if the non-Ghanaian company were a public company within the meaning of this Code, and subsections (2) and (3) of the immediately preceding section shall apply as if such company were an external company.

    (3) Any prospectus, advertisement or circular registered or published in connection with any such invitation shall state the country in which the non-Ghanaian company is incorporated and, if the liability of its members is limited shall so state.

    (4) Unless the provisions of this section are complied with the making of the invitation shall be deemed to be a breach of section 265 of this Code.

    (5) Sections 286, 287, 290 and 291 of this Code shall apply in relation to any invitation to the public to acquire or dispose of any shares or debentures of a non-Ghanaian company, whether or not an invitation of the types referred to in subsection (2) of this section, and sections 289, 290 and 291 shall apply in relation to any invitation to the public to deposit money with any non-Ghanaian company, as if the company were a public company within the meaning of this Code.