2024
SUPREME COURT
GHANA
CORAM
AI Generated Summary
The plaintiff challenged the constitutionality of establishing Ghana Amalgamated Trust PLC (GAT) by the Government and subsequent financial arrangements. The Supreme Court dismissed the plaintiff's claims, holding that GAT was validly established as a public corporation and commercial venture under the Constitution and the Companies Act, requiring no separate Act of Parliament. Additionally, the subscription of shares and Put-Call Option Agreement were deemed not to be loans under article 181, with parliamentary approvals being duly obtained under other constitutional provisions.
ASIEDU JSC:
[1]. Introduction/Reliefs: My lords, by his writ, the plaintiff herein, suing in his capacity as a Ghanaian and a Member of Parliament for Bawku Central, invokes the original jurisdiction of this court for: i. A declaration that upon a true and proper construction of the provisions of Articles 190(1)(b), (4) and 192 of the 1992 Constitution of the Republic of Ghana, any and every entity established for commercial purposes or as a commercial venture or in respect of which the Government of the Republic of Ghana is the sole beneficiary of its commercial fortunes, ought to be a public corporation within the meaning of articles 190(1)(b), (4), 192, 297 and 298 of the 1992 Constitution of the Republic of Ghana and must in accordance with the provisions of article 192 of the Constitution, be established by an Act of the Parliament of the Republic of Ghana.
A declaration that the incorporation of the Ghana Amalgamated Trust PLC [third Defendant] in respect of which the Government of the Republic of Ghana is the sole beneficiary of its shares, held in trust for and on its behalf by the National Trust Holding Company (NTHC) [fourth defendant] is inconsistent with, and in contravention of the provisions of articles 190(1)(b), (4), 192, 297 and 298 of the 1992 Constitution of the Republic of Ghana and is accordingly, null, void and of no effect.
A declaration that the GH₵800, 000, 000. 00 made available to third Defendant, as its initial capitalization to enable third Defendant invest in certain banks in Ghana could only have been advanced to third Defendant [not being a statutory corporation established under and by virtue of article 192 of the 1992 Constitution], as a loan from public funds pursuant to the provisions of Article 181 clause (1) of the Constitution.
A further declaration that upon a true and proper construction of the provisions of article 181 clauses (1) and (2) of the 1992 Constitution of the Republic of Ghana, every loan agreement Government intends to enter into must be preceded, as a mandatory first step, by an authorization given by the Parliament of the Republic of Ghana to Government, to enable Government enter into such agreement.
v. A declaration also that upon a true and proper construction of the provisions of article 181 clauses (1) and (2) of the 1992 Constitution of the Republic of Ghana, any authorization given by the Parliament of the Republic of Ghana to the Government to enter into an agreement for the grant