As a seasoned examiner with expertise in Ghanaian banking law, including Act 930 and Bills of Exchange Act, 1961 (Act 55), I’ll address each part with regulatory references and practical insights from cases like those during the 2017 cleanup involving guarantees.

a. Six Features/Characteristics of Negotiable Instruments (6 marks):
Negotiable instruments, like cheques and bills, are governed by Act 55. Key features include:

1. Transferability: Easily transferred by delivery or endorsement, enabling free circulation without notice to the maker.
2. Title to Holder: A bona fide holder for value gets good title, even if previous transfers had defects (e.g., stolen cheque).
3. In Writing: Must be written and signed by the maker/drawer.
4. Unconditional Promise/Order: Contains an unconditional promise (promissory note) or order (cheque) to pay a sum certain.
5. Payable on Demand or Fixed Time: Payable immediately or at a determinable future time.
6. To Bearer or Order: Payable to a specified person or bearer, facilitating negotiation.

b. Main Difference Between an Indemnity and a Counter Indemnity Agreement (6 marks):
An Indemnity is a contract where one party (indemnifier) promises to compensate another (indemnified) for loss or damage, often used in banking for customer protection against third-party claims (e.g., lost cheque indemnity). It’s primary and direct.
A Counter Indemnity, however, is a secondary agreement where the customer indemnifies the bank for issuing a guarantee or indemnity on their behalf. The key difference: Indemnity protects against loss directly, while Counter Indemnity reimburses the bank if it pays out under its own indemnity/guarantee, creating a chain of protection. In practice, at banks like Access Bank Ghana, counter indemnities secure letters of credit, aligning with Act 930’s risk mitigation.

c. Definitions from Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (8 marks total):
i. Bank (4 marks): Under Section 1 of Act 930, a “bank” means a body corporate licensed by the Bank of Ghana to carry on banking business, which includes accepting deposits from the public and using those deposits for lending or investment. Practically, this excludes non-deposit institutions, as seen in the 2017 revocation of licenses for non-compliant entities like UT Bank.
ii. Deposit Taking Business (4 marks): Per Section 1, “deposit-taking business” means the business of accepting deposits from the public where the deposits are repayable on demand or at a fixed period, and using those funds for lending, investment, or other financial activities. This is core to regulated institutions under BoG oversight, ensuring stability post-DDEP through capital adequacy requirements.