GHANA GOLD BOARD ACT, 2025 (ACT 1140)

THE ONE THOUSAND ONE HUNDRED AND FORTIETH ACT OF THE PARLIAMENT OF THE REPUBLIC OF GHANA ENTITLED GHANA GOLD BOARD ACT, 2025 AN ACT to establish the Ghana Gold Board to oversee, monitor and undertake the buying, selling and export of gold and other precious minerals, promote value addition to the gold and other precious minerals of the country, support responsible mining and the accumulation of gold reserves by the Bank of Ghana, generate foreign exchange and provide for related matters. DATE OF ASSENT: 2nd April, 2025 PASSED by Parliament and assented to by the President

Legislation

Table of Content

ARRANGEMENT OF SECTIONS

Section

Ghana Gold Board

1. Establishment of the Ghana Gold Board

2. Object of the Gold Board

3. Functions of the Gold Board

Governance of the Gold Board

4. Governing body of the Gold Board

5. Functions of the Board of Directors

6. Duties and liabilities of a member of the Board of Directors

7. Tenure of office of members of the Board of Directors

8. Meetings of the Board of Directors

9. Disclosure of interest

10. Establishment of committees

11. Allowances

12. Policy directives

Administrative Provisions

13. Appointment of Chief Executive Officer and Deputy Chief Executive Officer

14. Functions of the Chief Executive Officer

15. Appointment of other staff

16. Offices, divisions, directorates, departments and units of the Gold Board

17. Internal Audit Unit

Financial Provisions

18. Funds of the Gold Board

19. Bank account of the Gold Board

20. Expenses of the Gold Board

21. Exemption from tax

22. Borrowing powers

23. Accounts and audit

24. Annual report and other reports

25. Funds earmarked for small-scale miners

Licensing Provisions

26. Requirement for licence

27. Categories of licences

28. Qualification for licence

29. Application for licence

30. Consideration of an application for licence

31. Grant of licence

32. Validity and renewal of licence

33. Non-transferability of licence

34. Suspension of licence

35. Restoration of suspended licence

36. Revocation of licence

37. Register of gold service providers

Closure of Premises or Facility by Gold Board

38. Closure of premises or facility

Sale, Merger, Amalgamation and Alteration of the Nature of Business

39. Sale, merger, amalgamation and alteration of nature of business by gold service provider

Performance Standards and Specifications

40. Performance standards

41. Specifications for gold mining products

Reporting Requirements

42. Report by Gold Board

43. Submission of reports by gold service providers

Investigation and Enforcement

44. Inspector

45. Powers of an inspector

46. Obstruction of an inspector

47. Enforcement powers of the Gold Board

48. Other powers of the Gold Board

49. Anti-smuggling enforcement measures

Dispute Resolution

50. Negotiation

51. Dispute Resolution Committee

52. Composition and procedure of the Dispute Resolution Committee

53. Decisions of the Dispute Resolution Committee

54. Appeal against the decision of the Dispute Resolution Committee

Gold Board Tribunal

55. Establishment of the Gold Board Tribunal

56. Composition of the Tribunal

57. Administration of the Tribunal

58. Expenses of the Tribunal

59. Rules of procedure of the Tribunal

60. Right of appeal

61. Decisions of the Tribunal

62. Appeal against a decision of the Tribunal

Offences, Penalties and Administrative Penalty

63. General offences and penalties

64. Embezzlement, misappropriation or diversion of funds

65. Smuggling of gold

66. Offences relating to the transportation of and dealing in gold

67. Purchase of gold

68. Hoarding of gold

69. Offence by a body corporate

70. Administrative penalty

Miscellaneous Provisions

71. Publication of notices and directives

72. Public engagement

73. Regulations

74. Interpretation

75. Repeal, revocation and savings

76. Modification of existing enactments

77. Consequential amendment

78. Transitional provisions

ARRANGEMENT OF SECTIONS

Section

Ghana Gold Board

1. Establishment of the Ghana Gold Board

2. Object of the Gold Board

3. Functions of the Gold Board

Governance of the Gold Board

4. Governing body of the Gold Board

5. Functions of the Board of Directors

6. Duties and liabilities of a member of the Board of Directors

7. Tenure of office of members of the Board of Directors

8. Meetings of the Board of Directors

9. Disclosure of interest

10. Establishment of committees

11. Allowances

12. Policy directives

Administrative Provisions

13. Appointment of Chief Executive Officer and Deputy Chief Executive Officer

14. Functions of the Chief Executive Officer

15. Appointment of other staff

16. Offices, divisions, directorates, departments and units of the Gold Board

17. Internal Audit Unit

Financial Provisions

18. Funds of the Gold Board

19. Bank account of the Gold Board

20. Expenses of the Gold Board

21. Exemption from tax

22. Borrowing powers

23. Accounts and audit

24. Annual report and other reports

25. Funds earmarked for small-scale miners

Licensing Provisions

26. Requirement for licence

27. Categories of licences

28. Qualification for licence

29. Application for licence

30. Consideration of an application for licence

31. Grant of licence

32. Validity and renewal of licence

33. Non-transferability of licence

34. Suspension of licence

35. Restoration of suspended licence

36. Revocation of licence

37. Register of gold service providers

Closure of Premises or Facility by Gold Board

38. Closure of premises or facility

Sale, Merger, Amalgamation and Alteration of the Nature of Business

39. Sale, merger, amalgamation and alteration of nature of business by gold service provider

Performance Standards and Specifications

40. Performance standards

41. Specifications for gold mining products

Reporting Requirements

42. Report by Gold Board

43. Submission of reports by gold service providers

Investigation and Enforcement

44. Inspector

45. Powers of an inspector

46. Obstruction of an inspector

47. Enforcement powers of the Gold Board

48. Other powers of the Gold Board

49. Anti-smuggling enforcement measures

Dispute Resolution

50. Negotiation

51. Dispute Resolution Committee

52. Composition and procedure of the Dispute Resolution Committee

53. Decisions of the Dispute Resolution Committee

54. Appeal against the decision of the Dispute Resolution Committee

Gold Board Tribunal

55. Establishment of the Gold Board Tribunal

56. Composition of the Tribunal

57. Administration of the Tribunal

58. Expenses of the Tribunal

59. Rules of procedure of the Tribunal

60. Right of appeal

61. Decisions of the Tribunal

62. Appeal against a decision of the Tribunal

Offences, Penalties and Administrative Penalty

63. General offences and penalties

64. Embezzlement, misappropriation or diversion of funds

65. Smuggling of gold

66. Offences relating to the transportation of and dealing in gold

67. Purchase of gold

68. Hoarding of gold

69. Offence by a body corporate

70. Administrative penalty

Miscellaneous Provisions

71. Publication of notices and directives

72. Public engagement

73. Regulations

74. Interpretation

75. Repeal, revocation and savings

76. Modification of existing enactments

77. Consequential amendment

78. Transitional provisions

Section 1

1. Establishment of the Ghana Gold Board

(1) There is established by this Act, the Ghana Gold Board as a body corporate. (2) The Gold Board may, for the performance of the functions of the Gold Board, acquire and hold property, dispose of property and enter into a contract or any other related transaction. (3) Where there is a hindrance to the acquisition of land, the land may be acquired for the Gold Board under the Land Act, 2020 (Act 1036) and the cost shall be borne by the Gold Board.

Section 2

2. Object of the Gold Board

The object of the Gold Board is to (a) oversee, monitor and undertake the buying, selling, assaying, refining, exporting or other related activity in respect of gold; (b) generate foreign exchange for the country; and (c) support the accumulation of gold reserves by the Bank of Ghana.

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GHANA GOLD BOARD ACT, 2025 (ACT 1140)

1. Establishment of the Ghana Gold Board

2. Object of the Gold Board

GHANA GOLD BOARD ACT, 2025 (ACT 1140)

1. Establishment of the Ghana Gold Board

2. Object of the Gold Board