CORPORATE GOVERNANCE 79. Consumers are protected from unfair competition. The Protection Against Unfair Competition Act, 2000 (Act 589) ensures that principles of fair competition are maintained. People damaged by unfair competition can seek an injunction in court to prevent such activities, or a provisional order from the courts to preserve evidence before damages or compensation is awarded to them. People who believe their intellectual property rights have been misused can also seek redress under the court system. Although there is now a draft Competition and Fair Trade Practices Act seeking the establishment of a special court and complaints office dealing with competition issues, it has yet to be tabled in Parliament. ii. Findings of the CRM 80. Shareholder rights in general are well observed and shareholders are equitably treated under the law. Duties of care and loyalty also appear adequate, and are hardly contested in practice. However, this may be explained by the low level of awareness of the various rights and the lengthy judicial process. The CRM was informed that most Ghanaians would rather be “out of pocket” than tackle the lengthy and expensive court system, unless very significantly aggrieved. 81. The level of awareness of stakeholder rights is extremely low among communities, though higher among large companies. Non-owner stakeholders, including employees at non-senior levels, have complained of limited access to company information. No information was, however, provided on the frequency of false advertising, product recalls and copyright infringement, which are key elements of assessments relating to stakeholder rights. iii. Recommendations 82. The Panel recommends that Ghana: ? Educate shareholders and stakeholders about their rights. ? Improve mechanisms for providing information to stakeholders. ? Enhance efforts to expedite commercial dispute resolution. ? Strengthen debt collection and foreclosure mechanisms. ? Pass the draft Insolvency Act to address individual bankruptcies. ? Enact consumer legislation and establish a consumer's organisation. ? Enact the draft Competition and Fair Trade Practices Act. ? Establish a special court and complaints office dealing with competition issues. 109