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ACT
OF THE PARLIAMNET OF THE REPUBLIC OF GHANA
ENTITLED
ACT 504
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FREE ZONE ACT ACT 504
ACT
OF THE PARLIAMNET OF THE REPUBLIC OF GHANA
ENTITLED
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FREE ZONE ACT ACT 504
a. grant licenses to applicants under this Act;
b. assist applicants for licences under this Act by providing
services for obtaining other relevant licenses, permits and
facilities;
c. examine and recommend for approval agreements and
treaties relating to the development and activities of the free
zones;
d. monitor the activities, performance and development of free
zone developers and enterprises;
e. ensure compliance by free zone developers and
enterprises of this Act and any other laws relevant to free zone
activities.
f. Register and keep records and data on the programmes of
developers, operators and enterprises in free zones;
g. Perform such other functions as are incidental to the
foregoing.
5. (1) The Board shall meet for the dispatch of business at such
times and places as the chairman may determine but
shall meet at least once every month.
(2) The Chairman shall preside at all meetings of the Board and
in his absence the members present shall elect one of their
number to preside.
(3) The quorum for a meeting of the Board shall be five of the
members.
(4) Questions at a meeting of the Board shall be determined by a
majority of members present and voting and where there is
equality of votes the person presiding shall have a casting vote.
(5) The Board may co-opt any person to attend any of its
meetings except that a person co-opted does not have the right to
vote on any matter before the Board for decision.
(6) The validity of the proceedings of the Board shall not be
affected by a vacancy among its members or by a defect in the
appointment of qualification of a member.
(7) A member of the Board who has an interest in a contract
proposed to be entered into on behalf of the Board shall disclose
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FREE ZONE ACT ACT 504
in writing to the Board the nature of his interest and shall be
disqualified from participating in any deliberations of the Board in
respect of the contract.
(8) A member of the Board who infringes subsection (7) of this
section is liable to be removed from the membership of the Board.
(9) Except as otherwise provided in this section, the Board shall
regulate the procedure for its meetings.
11. Subject to the provisions of this Act any person may apply
for a license to establish an enterprise in a free zone.
13. (1) A free zone enterprise shall have the right to produce any
type of goods and services for export but shall not produce
any goods that are environmentally hazardous.
PART IV – LICENSING
a.be in writing;
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FREE ZONE ACT ACT 504
(2) The Board shall cause response to be made to an
application within twenty eight working days from the
date of the receipt of the application.
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FREE ZONE ACT ACT 504
b. the zone to be developed or managed or both
or the trade, business or industry to which the
license relates.
(3)The register shall be kept by the Board and shall be open for
inspection by the public subject to such fee as the Board may determine.
21. The laws for the time being in force relating to the
apply to-
territory.
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FREE ZONE ACT ACT 504
(2) Sales of goods from free zone enterprises or single
factory zones to the national customs territory shall be
considered as imports and shall be subject to the rules and
regulations relating to imports into the national customs
territory.
goods
(2) The Minister after consultation with the Minister responsible for
Customs and Exercise and the Commissioner of Customs, Excise and
Preventive Service may be legislative instrument make regulations
27. Where goods stored in a free zone are found to be missing without
an acceptable explanation, the Commissioner may request the licensee
to pay the duty on the goods at the rate in force at the time in addition to
any penalty which may be imposed by the Commissioner.
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FREE ZONE ACT ACT 504
PART VI – INCENTIVES
28. (1) Free zone developers and enterprises granted licenses
income tax on profits for the first ten years from the date
of commencement of operation.
(2) The income tax rate after ten years shall not exceed a
maximum of 8 per cent.
29. (1) A foreign investor may take and hold a maximum of 100
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FREE ZONE ACT ACT 504
expropriated by Government and no person who
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FREE ZONE ACT ACT 504
(3)Where in respect of any dispute, there is disagreement between
the license and the Government as to the method of dispute
settlement to be adopted; the choice of the license shall prevail.
Ghana.
(2) The terms and conditions under which the accounts shall
be operated shall be set out in the license granted under
section 16 of this Act.
35. (1) The Board shall issue identity card to all employees
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FREE ZONE ACT ACT 504
of licensed operators in a free zone.
(2) The Minister for Trade and Industry shall assign to the
Secretariat of the Board such public officers as the Board
may require for the implementation of its functions.
and in any event not more than six months after the end of
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FREE ZONE ACT ACT 504
40. A person who:-
41. (1) The Minister may make regulations for the effective
of it;
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FREE ZONE ACT ACT 504
wish to carry on or are carrying on business within the zone and
includes agents or sub contractors of the developers;
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