GHANA INDUSTRIAL HOLDING CORPORATION (DISSOLUTION) ACT - 1993 (PNDCL 324)
(1) The assets, rights and obligations of the Corporation and of its subsidiaries are transferred to the Republic and shall be disposed of, or otherwise dealt with in the manner directed by the President.
(2) Despite anything to the contrary, the shares, debentures, securities and proprietary rights held by the Corporation before the commencement of this Act are hereby vested in the Republic free from any encumbrances.
(3) The President may give the directives necessary for the discharge of the obligations and liabilities attached to the shares, debentures, securities and proprietary rights transferred to the Republic under this section.
(1) The companies specified in the Schedule shall continue to exist as limited liability companies on the coming into force of this Act and shall cease to be subsidiaries of the Corporation.
(2) The President may, in respect of the companies specified in the Schedule, give further directions and for purposes which the President considers necessary.
An action shall not be brought against the Corporation, or any of its divisions or subsidiaries, or against a person in respect of an obligation or liability arising out of the dissolution of the Corporation under section 1.
A person who
(a) obstructs directly or indirectly the implementation of a provision of this Act,
(b) fails without reasonable excuse, the proof of which lies on that person, to comply with a directive given by the Minister under section 8,
(c) fails without reasonable excuse, the proof of which lies on that person, to furnish an information requested by the Minister under section 9, or furnishes in response to the request an information which that person knows is false or does not believe is true, or
(d) destroys, falsifies or mutilates a record or document with intent to frustrate the implementation of this Act,
commits an offence and is liable on summary conviction to a fine not exceeding two hundred penalty units or to a term of imprisonment not exceeding one year or to both the fine and the imprisonment.
(1) Where an offence under this Act is committed by a body or person
(a) in the case of a body corporate, every director, or officer of that body shall be deemed to have committed that offence, and
(b) in the case of partnership, every partner or officer of the partnership shall be deemed to have committed that offence.
(2) A person shall not be convicted of an offence under subsection (1) if it is proved that the offence was committed without the knowledge or connivance of that person and that due care and diligence was exercised to prevent the commission of the offence having regard to the circumstances.
In this Act, unless the context otherwise requires,
"Corporation" means the Ghana Industrial Holding Corporation;
"Minister" means the Minister responsible for Industries, Science and Technology.
This Act shall be deemed to have come into force on 14th day of March, 1989.
Limited Liability Companies
1. GIHOC Distilleries Company Limited
2. GIHOC Bottling Company Limited
3. GIHOC Pharmaceutical Company Limited
4. GIHOC Cannery Company Limited
5. GIHOC Steelworks Company Limited
6. GIHOC Meat Products Company Limited
7. GIHOC Nzema Oil Mills Company Limited
8. GIHOC Central Advertising Company Limited
9. GIHOC Paints Company Limited
10. GIHOC Fibre Products Company Limited
11. GIHOC Footwear Company Limited
12. GIHOC Marble Works Company Limited
13. GIHOC Metal Industries Company Limited
14. GIHOC Paper Conversion Company Limited
15. GIHOC Electronics Company Limited
16. GIHOC Manufacturing Company Limited
17. GIHOC Motors & Machine Shop Company Limited
18. GIHOC Printing & Paper Products Company Limited
19. GIHOC Refrigeration & Household Products Company
20. GIHOC Mosquito Coil Company Limited
21. GIHOC Boatyards Company Limited
22. GIHOC Brick & Tile Company Limited
23. GIHOC Glass Manufacturing Company Limited
24. GIHOC Vegetable Oil Mills Company Limited
Made this 1st day of January, 1993.