Section 354 - Governing body of the Office of the Registrar of Companies

(1) The governing body of the Office of the Registrar of Companies is a Board consisting of

(a) a chairperson nominated by the President,

(b) one representative of the Office of the Attorney-General not below the rank of a Principal State Attorney,

(c) one representative of the Ministry of Trade and Industry not below the rank of a Director nominated by the Minister,

(d) one representative of the Securities and Exchange Commission nominated by the governing body of the Commission,

(e) one representative of the Private Enterprise Federation nominated by the Federation,

(f) one lawyer with at least ten years’ experience in corporate law practice, nominated by Ghana Bar Association,

(g) two other persons with expertise in corporate law practice, at least one of whom is a woman, nominated by the President,

(h) one representative from the Institute of Chartered Accountants, Ghana nominated by the Council of the Institute,

(i) one representative from Ghana Association of Restructuring and Insolvency Advisors nominated by the governing body of the Association, and

(j) the Registrar of Companies appointed under section 362.

(2) The members of the Board shall be appointed by the President in accordance with article 70 of the Constitution.

(3) The President shall in appointing the members of the Board take into account gender balance.

(4) A member of the Board has the same fiduciary relationship with the Office of the Registrar and the same duty to act with loyalty and in good faith as a director of a company in accordance with section 190.

(5) The Board shall ensure the proper and effective performance of the functions of the Office of the Registrar.