LOANS ACT - 1970 (ACT 335)

    Section - 8 - Moneys received to be paid into Consolidated Fund or other Prescribed Public Fund.

    (1) Any moneys received in respect of any loan referred to in section 7 of this Act shall be paid into the Consolidated Fund and form part thereof, or into some other public fund of Ghana either existing at the time of the loan or created for the purposes of the loan and shall be applied for purposes for which they were obtained and in accordance with the agreement under which they were obtained.

    (2) Where any sum has become payable out of any moneys paid into the Consolidated Fund or other public fund under subsection (1) of this section under an agreement by which a loan is granted for any purpose prescribed under the agreement, the money shall be deemed to be charged on the Consolidated Fund or such other public fund into which the money has been paid under subsection (1) of this section.