Licensed Buying Agents (Control) Act, 1972 (N.R.C.D. 56).

The Act lays down provisions concerning the payment to farmers of cocoa bought by buying agents and for related matters. The Act establishes that the moneys due from a licensed buying agent of the Ghana Cocoa Marketing Board to a cocoa farmer immediately before the commencement of the Act, in respect of cocoa purchased from that farmer, shall be paid to the farmer within three months after the commencement of this Act. Where a licensed buying agent fails to comply with payment the assets belonging to the licensed buying agent are forfeited to the Republic. The President shall also take the necessary steps to ensure that the farmer is duly paid.