LOANS ACT - 1970 (ACT 335)

    Section - 13 - Guarantee by Government of Loan to Prescribed Bodies to be Effected by Bank of Ghana.

    Subject to section 10 of this Act, where any prescribed body is desirous of raising any loan and the terms of the agreement under which the loan is to be raised require a guarantee of the loan by Government, the Government may, if the Minister has, with the concurrence of the Bank and before the raising of the loan, given his approval in writing to the terms and conditions subject to which the loan is to be raised, by writing request the Bank-

    (a) to guarantee the discharge by the prescribed body of its obligations in respect of the loan, and

    (b) to undertake such other obligations as may be provided for in the agreement relating to the loan and the Bank shall comply with such request.