REPUBLIC vs. HIGH COURT (COMMERCIAL DIVISION), ACCRA EX PARTE: ATTORNEY-GENERAL (BALKAN ENERGY GHANA LTD & OTHERS lNTERESTED PARTIES)

SOPHIA AKUFFO JSC delivered the unanimous ruling of the court. Article 181of the 1992 Constitution provides, in part, as follows: "181. Loans (1) Parliament may, by a resolution supported by the votes of a majority of all the members of Parliament, authorise the Government to enter into an agreement for the granting of a loan out of any public fund or public account. (2) An agreement entered into under clause ( l) of this article shall be laid before Parliament, and shall not come into operation unless it is approved by a resolution of Parliament. (3) No loan shall be raised by the Government on behalf of itself or any other public institution or authority otherwise than by or under the authority of an Act of Parliament. (4) ... (5) This article shall, with the necessary modifications by Parliament, apply to an international business or economic transaction to which the Government is a party as it applies to a loan " This is an application by the Hon Attorney-General, i...