LOANS ACT - 1970 (ACT 335)

    Section - 22 - Interpretation.

    In this Act unless the context otherwise requires-

    "Bank" means the Bank of Ghana;

    "external loan" means a loan raised from all or any of the following:-

    (a) the Government of any country other than Ghana,

    (b) any person, body or institution whether resident in Ghana or outside Ghana;

    being a loan raised in currency other than Ghana currency or a loan the repayment of which is to be made in currency other than Ghana currency;

    "guarantee" includes an undertaking to repay a loan whether conditioned upon a default or not;

    "loan" includes an overdraft and any moneys lent or given to the Government on condition of return or repayment and any other form of borrowing or lending in respect of which-

    (a) moneys from the Consolidated Fund or any other public fund, or

    (b) moneys from any fund by whatever name called established for the purposes of repayment whether in whole or in part and whether directly or indirectly, may be used for repayment;

    "Minister" means the Minister responsible for Finance;

    "prescribed body" means-

    (a) a body corporate established by an Act or by a statutory instrument made under an Act,

    (b) any company or partnership in which the Government has a controlling interest being a company or partnership which is registered under the Companies Code, 1963 (Act 179) or as the case may be, under the Incorporated Private Partnerships Act, 1962 (Act 152),

    (c) any other company or partnership (whether the Government has any interest in it or not) which is registered under the Companies Code, 1963 (Act 179) or as the case may be under the Incorporated Private Partnerships Act, 1962 (Act 152);

    "securities" include securities of the Government or of any other country approved by the Minister and bonds, notes, deposits, certificates, debentures and treasury bills.