The object of thepresent treaty is to harmonise business law in the states parties by the elaboration and adoption of simple modern common rules adapted to their economies, by setting up appropriate judicial procedures, and promotingarbitration as a means of settlingcontractual disputes. A revised uniform companies code for the 17 african. Natural persons or legal entities and economic interest groups formed or being formed on the date of entry into force of this uniform act, shall harmonize the terms of their business operations with the new legislation within a period of two years from the publication of this uniform act in the official journal. Release of the official english translation of ohada. Article 1any merchant, natural person or legal entity including all commercial companies in which a state or any other entity governed by public law is associated, as well as any. It constitutes the commercial corporate law for all member states since january 1, 2000. The act now includes provisions for information technologies that contribute towards the smooth running of companies. Ohada, which was created by a 1993 treaty, comprises 17 member states,1 and its uniform acts are directly applicable in each member state, with the aim of achieving legal harmonisation across member states. Ohada uniform act relating to commercial companies and. Uniform act on commercial companies and economic interest groups, enacted april 17, 1997 and implemented january 1, 1998.
An introduction to business structures as contained in the revised uniform act relating to commercial companies and economic interest groups. The uniform act on commercial companies and economic interest groups the uniform act on commercial companies, as revised on 30 january 2014 brought about substantial changes to securities law. Complying with the revised 2014 ohada uniform act on commercial companies and the economic interest group here, are available, in pdf and word files, templates of articles of association of business structures complying with the revised 2014 ohada uniform act on commercial companies and the economic interest group, in english. In particular, the uniform act on commercial companies, in its article 7441 recognised the principle of dematerialisation of securities. Uniform act on the law of commercial companies and economic interest groups under this act, a commercial company is an agreement by which two or more persons, by means of a contract, allocate assets, in cash or in kind, to an activity for the purpose of sharing the resulting profits. Uniform act on collective proceedings for the clearing of debts, enacted april 10. Articles of association of ohada business companies and. All books are in clear copy here, and all files are secure so dont worry about it. Ohada uniform act on commercial companies and economic interest groups pdf.
Ohada uniform act relating to commercial companies and economic interest group 24. Uaccleig uniform act related to the commercial companies and economic interest groups uagcl uniform act on the general commercial law uasl uniform act related to the security law. Uniform act relating to commercial companies and economic interest group page 1 sur 372 nouvelles methodes sarl uniform act relating to commercial companies and economic interest group the council of ministers of the organization for the harmonization of business law in africa ohada. On january 30, 2014 in burkina faso, the ohada council of ministers adopted a revised version of the 1997 uniform act on commercial companies and economic interest groups. Uniform act relating to general commercial law page 8 sur 125 nouvelles methodes sarl companies and economic interest groups and the uniform act relating to the organization and harmonization of business accounting. Commercial code article 1 california pdf uniform commercial code book 2019 ohada uniform act on commercial companies ohada uniform act on commercial companies and economic interest groups pdf ohada uniform act on. The stated capital shall be divided into equity interests or shares according to the typeof the company. Ohada uniform act on commercial companies ohada uniform act on commercial companies and economic interest groups pdf ohada uniform act on commercial companies and economic interest groups 2014 ohada uniform act on simplified recovery procedure uniform commercial code companies and other business structures in south africa commercial law anderson uniform commercial code uniform commercial. December 15, 2010 in lome togodate of publication in the ohada official. The revised ohada uniform act on security law africa. The rules regulating formation and activities of branch companies are provided by the uniform act on commercial companies and economic interest groups the act.
An introduction to business structures as contained in the. Read online ohada uniform act relating to commercial companies and. Organizing simplified recovery procedures and measures of execution. The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the ohada official gazette on 4 february 2014. Article 1 every trader, be he a natural or legal person including all commercial companies of which a state or a person governed by public law is a member, as well as every economic interest. Ohada uniform act on commercial companies and economic interest groups 2014. Standard template of agreement of economic interest group with capital. More specifically, as regards the terms and conditions for the formation and functioning of commercial companies, this document summarizes the various changes stipulated in the revised uniform act.
A commercial company may also be formed, as provided by this uniform act, by a single person. The longawaited english version of the ohada treaty and ohada uniform acts has now been formally published in the special edition nov. After nearly ten years of negotiations within the ohada, a uniform act ua was approved on 15 december 2010 and published on 15 february 2011 in the ohada s official gazette ohada uniform act relating to cooperative companies law. Having previously reformed the uniform acts for security interests, cooperative companies and general commercial law in december 2010, ohada adopted on 30 january 2014 substantial amendments to. Uniform act on commercial companies and economic interest groupings print. Impact of the uniform act relating to commercial companies and economic interest groups on reconstituting shareholders equity legal services, as stated in our previous newsletter, another important change in company law introduced by the uniform act relating to commercial companies and economic interest groups acte uniforme sur le droit. Compilation of treaties and uniform acts official translation. The first part of this uniform act covers relevant issues, from the formation and the functioning of. Read pdf the revised ohada uniform act on security law africa. Revised uniform act on companies global legal monitor. General commercial law, commercial companies and economic interest groups, secured transactions law, debt resolution law, insolvency law, arbitration law, harmonization of corporate accounting, contracts for the carriage of goods, cooperatives companies law. This site is like a library, you could find million book here by using search box in the header. The usbased foundation for a unified business law in africa foubla, whose goal is to foster the advancement continue reading. Ohada uniform act relating to general commercial law.
The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the ohada official gazette. A revised companies code was adopted by ohada on 30 january 2014 the uniform act on commercial companies and economic interest groups. Following on from the 1993 treaty on the harmonization of business law in africa, the uniform act relating to commercial companies and economic interest groups was adopted on 17 april 1997. The revised code adds tailwind to a fast developing market and further incentivizes investors, including private equity investors, to enter the dynamic african markets. Ohada introduces revised uniform act on commercial. This innovation is far more important that that caused by the adoption of the european regulation. A commercial company shall be formed in the common interest of the members. Formation, incorporation, management of companies under. They shall also comply, as appropriate, with the provisions of the uniform act with respect to the organization and harmonization of corporate accounting and the uniform act on commercial companies and the economic interest group. The amount of stated capital shall be freely setby the members. A revised uniform act on commercial companies and economic interest groups the revised uniform act was adopted on 30 january 2014 by the ohada council of ministers. Translation subject to further correction december 2016.
Commercial law in december 2010, ohada adopted on 30 january 2014 substantial amendments to its core corporations law, the uniform act relating to commercial companies and economic interest groups known as the auscgie, with almost two hundred new articles and some four hundred revised provisions. In this regard, the general commercial law, the commercial companies and economic interest group law, the sureties law, the bankruptcy law and more recently, in november 2017, the ohada arbitration law have been modified by the ohada council of minister that has at the same occasion adopted a uniform act on mediation. Uniform act on securities, enacted april 17, 1997, implemented january 1, 1998, and revised december 15, 2010. Theyshall also comply, as appropriate, withthe provisions of the uniform act with respect to theorganization and harmonization ofcorporateaccounting and the uniform act on commercial companies and the economic interest group.
Ohada uniform act relating to commercial companies and economic interest group 3 section 2 commitments made on behalf of the company under formation prior to its incorporation. Here, are available, in pdf and word files, templates of agreements of economic interest groups complying with the revised 2014 ohada uniform act on commercial companies and the economic interest group, in english. Commercial code book 2019 uniform commercial code article 1 california pdf ohada uniform act on commercial companies ohada uniform act on commercial companies and economic interest groups pdf ohada. All of the contracting states to the treaty are subject to this act, which was revised on 30 january 2014. An introduction to business structures as contained in the revised uniform act relating to commercial companies and economic interest groups a renewed company law for the 17 ohada member states. Any person, regardless of his nationality, wishing to engage in a commercial activity in a company located in the territory of one of the states parties, shall choose one of the types of company suitable for the projected activity, among the ones provided for in this uniform act. Companies with more than 100 shareholders are required to use ifrs standards, even if their securities do not trade in a public market according to ohada s uniform act relating to commercial companies and the economic interest group. Section 3 commitments made on behalf of a fully formed company prior to its registration. Ohada uniform act on commercial companies and economic interest. Article 14 the journal and the inventory book must bear the registration number of the natural or corporate person concerned in the trade and personal property rights register. Article 14 the accounting books shall indicate the registration number in the register of commerce and securities.
Uniform act relating to commercial companies and economic group partnerships. Ohada uniform act on commercial companies and economic. A revised version of the act was adopted on 20 january 2014 by the ohada council of ministers. January 30, 2014 in ouagadougou burkina faso date of publication in the ohada official gazette. Corporate issues are therefore regulated in the drc by the ohada uniform act on commercial companies and economic interest groups hereinafter referred as the uniform act and supersedes all contradictory provisions of national regulation. The uniform act provides the operating rules for commercial companies and economic interest groups.
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