S.G. GHANA LTD. (PLAINTIFF) vs. FOUNTAIN OF YOUTH INT. SCHOOL AND PATIENCE NANSI SENCHEREY (DEFENDANTS)

The Motion before the Court seeks an “order striking out the Plaintiff’s Writ of Summons on grounds of non-compliance with the mandatory requirements of a money-lenders action per Order 59 of CI 47” The Money Lenders Act, 1941, CAP 176 defines ‘money-lender’ in section 29(b) to exclude “a body corporate, incorporated or empowered by special Act to lend Money in accordance with that Act”. Paragraph 1 of the statement of claim states that the “Plaintiff is a Bank duly registered under the laws of the Republic of Ghana”. This averment by the Plaintiff has been admitted by the Defendant in paragraph 2 of their statement of defence. Hence, the business of the Plaintiff is not governed by the Money Lenders Act, 1941, CAP 176 but by the Specialized Deposit-Taking Institutions Act, 2016, Act 930. Section 1 (1) states that: 1. Application of this Act (1) This Act applies to- (a) banks; (b) specialised deposit-taking institutions; (c) financial holding companies;...