Section 343 - Control of public invitations relating to other non-Ghanaian companies

(1) For the purposes of this section and of section 295 the expression “non-Ghanaian company” means an association incorporated or to be incorporated outside the Republic which is not an external company as defined in section 329.

(2) Where a person makes in Ghana an invitation to the public which is,

(a) a general invitation, as defined by section 305 to acquire shares or debentures of a non-Ghanaian company, or

(b) an invitation to deposit money with a non-Ghanaian company for a fixed period or payable at call whether bearing or not bearing interest,

subject to any other provision of this Act, Part X of Chapter Two and Part A of Chapter Four shall apply as if the non-Ghanaian company were a public company within the meaning of this Act, and subsections (2) and (3) of section 342 apply as if that company were an external company.

(3) A prospectus, an advertisement or a circular registered or published in connection with that invitation shall state the country in which the non-Ghanaian company is incorporated and, if the liability of the members is limited shall so state.

(4) Unless this section is complied with, the making of the invitation is a breach of section 294.

(5) Sections 313, 314, 317 and 318 shall apply in relation to an invitation to the public to acquire or dispose of any shares or debentures of a non-Ghanaian company, whether or not an invitation of the types referred to in subsection (2) and sections 316, 317 and 318 shall apply in relation to an invitation to the public to deposit money with a non-Ghanaian company, as if the company were a public company within the meaning of this Act.