Timber Resources Management Act, 1997 (Act 547) As Amended
Section 14A: A person who invests in any forestry or wildlife enterprise (hereafter referred to in this Act as "an investor") is entitled to such benefits and incentives as are applicable to its enterprise under the Internal Revenue Act, 2000 (Act 692) and under Chapters 82, 84, 85 and 98 of the Customs Harmonised Commodity and Tariff Code scheduled to the Customs, Excise and Preventive Service Law, 1993 (PNDCL 330) and any other enactment for the time being in force.[As inserted by the Timber Resources Management (Amendment) Act, 2002 (Act 617), s.3]
Subject : Timber Utilization ContractsProcedure to Follow
- The investor will submit a duly completed and signed Securities Account Opening Form, CSD Form 1 in duplicate together with a copy of identification or authorization document to the DP.
- In addition, the investor, if an individual, will be required to submit to the DP two recent colour passport size photographs. Where the investor is a body corporate,
association or other entity, the passport size photographs required will be of all the authorized signatories to the account. - The DP shall ensure full disclosure of investor’s relevant information, verify the information provided thereof and witness investor’s signature.
- The DP shall capture the data obtained from the Securities Account Opening Form completed together with all or any relevant Know Your Client (KYC) documents submitted by the investor into the CSD system which shall be saved and subsequently confirmed by the DP.
- CSD system will then generate a Client Identification number. Where the applicant indicates an Existing CSD Client ID on the form, the CSD system will not generate or create a new Client Identification number. In this case, the DP will register the client ID provided by the client and thereafter the DP will authorize the registered account.
- The new clients created into the CSD system by DPs will be available online to the CSD for approval or rejection within 30 minutes upon receipts. Only accounts that have been approved or accepted by the CSD will be available for transactions by DPs.
- Accounts that are rejected by the CSD will have to be set up again in the CSD system by the affected DPs. CSD will indicate the reason for the rejection.
- The DP shall enter the Securities Account Number on the form and shall return to the client a copy of Securities Account Opening Form, duly signed and stamped. The Securities Account Number is made up of the Member’s Code, Client Identification number and Account Type, example ABC-P-0000000001234-LI-0.
- A DP shall retain copies of identification documents to assist it identify its clients. DPs shall also ensure the safe custody of specimen signatures of their clients.
- Each party to a joint account shall have to satisfy the account opening requirements stated above. Subsequently, the DP shall create the joint accounts.
- The CSD system will be available for account creation by DPs from 9.30am to 5.00pm on any business day.
- Accounts received by CSD after 4.30 pm may be authorized by CSD on the next business day.
- Investor Service accounts can be opened directly through the CSD by investors for a prescribed fee.
Responsible Institution
- Email: info.hq@fcghana.org
- Website: https://www.fcghana.org/
- GPS:
- Telephone: +233 302 401210, 401227, 401216, 302 7010031
Relevant Forms to Download
Not Available
Online System
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Fees/ charges
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