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Collateralisation and Ghana’s Petroleum Revenue
Written by Yaw D. Oppong Friday, 05 August 2011 08:57
“Any contract, agreement or arrangement to the extent that it encumbers or purports to encumber the assets of the Petroleum Funds whether by way of guarantee security, mortgage or any other form of encumbrances is contrary to this Act and is null and void.” Section 41(2) of Act 815.
In April 2011, the Parliament of Ghana passed the Eight Hundred and Fifteenth Act known as PETROLEUM REVENUE MANAGEMENT ACT, 2011. The Act received Presidential assent on 11th April 2011. Gazette notification was also issued on 15th April 2011. more>>>
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