COMPANIES ACT - 1963 (ACT 179)

    Section - 316 - Application of Sections 266 and 267 to External and Non- Ghanaian Companies

    (1) For the purposes of the foregoing provisions of this Chapter of this Code, the expression "invitation to the public" shall bear the meaning assigned to it in section 266 of this Code:

    Provided that an invitation made by or on behalf of an external or non-Ghanaian company exclusively to its existing shareholders and debentureholders, not being greater in number than is prescribed by subsection (3) of section 9 of this Code, and its existing employees shall not be deemed to be an invitation to the public unless the invitation is of the type referred to in paragraph (c) or (d) of subsection (1) of section 266.

    (2) Section 267 of this Code shall apply to invitations to the public made in respect of shares or debentures of external and non-Ghanaian companies.