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MINERALS DEVELOPMENT FUND ACT, 2016 (ACT 912)

THE NINE HUNDRED AND TWELFTH ACT OF THE PARLIAMENT OF THE REPUBLIC OF GHANA ENTITLED MINERALS DEVELOPMENT FUND ACT, 2016 AN ACT to establish the Minerals Development Fund, to provide financial resources for the benefit of mining communities and for related matters. DATE OF ASSENT: 29th March, 2016. PASSED by Parliament and assented to by the President:

Legislation

Table of Content

Minerals Development Fund

1. Establishment of the Minerals Development Fund

2. Object of the Fund

3. Sources of money for the Fund

4. Bank account for the Fund

5. Application of the Fund

Management of the Fund

6. Governing body of the Fund

7. Functions of the Board

8. Tenure of office of members

9. Meetings of the Board

10. Disclosure of interest

11. Establishment of committees

12. Allowances

13. Ministerial directives

Administrative Provisions

14. Appointment of Administrator of the Fund

15. Appointment of other staff

Mining Community Development Scheme

16. Establishment of the Mining Community Development Scheme

17. Object of the Scheme

18. Sources of funds for the Scheme

19. Local Management Committee

20. Management of the Scheme

Financial Provisions

21. Disbursement of the Fund

22. Expenses of the Fund

23. Accounts and audit

24. Financial year

25. Annual reports

Miscellaneous Provisions

26. Regulations

2 7. Interpretation

28. Transitional provisions

Minerals Development Fund

1. Establishment of the Minerals Development Fund

2. Object of the Fund

3. Sources of money for the Fund

4. Bank account for the Fund

5. Application of the Fund

Management of the Fund

6. Governing body of the Fund

7. Functions of the Board

8. Tenure of office of members

9. Meetings of the Board

10. Disclosure of interest

11. Establishment of committees

12. Allowances

13. Ministerial directives

Administrative Provisions

14. Appointment of Administrator of the Fund

15. Appointment of other staff

Mining Community Development Scheme

16. Establishment of the Mining Community Development Scheme

17. Object of the Scheme

18. Sources of funds for the Scheme

19. Local Management Committee

20. Management of the Scheme

Financial Provisions

21. Disbursement of the Fund

22. Expenses of the Fund

23. Accounts and audit

24. Financial year

25. Annual reports

Miscellaneous Provisions

26. Regulations

2 7. Interpretation

28. Transitional provisions

Section 1

1. Establishment of the Minerals Development Fund

(1) There is established by this Act a body corporate to be known as the Minerals Development Fund. (2) The Fund may, for the performance of its functions, acquire and hold movable property or immovable property and may enter into a contract or any other transaction. (3) Where there is hindrance to the acquisition of property, the property may be acquired for the Fund under the State Lands Act, 1962 (Act 125) and the cost shall be borne by the Fund.

Section 2

2. Object of the Fund

The object of the Fund is to provide financial resources for the direct benefit of (a) a mining community; (b) a holder of interest in land within a mining community; (c) a traditional and local government authority within a mining community; and (d) an institution responsible for the development of mining.

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