Dec 22, 2017 it supersedes the uniform act of 11 march 1999. 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. Provisions governing all companies relating to their incorporation,functionning, civil liability of company executives, legal links between companies, transformation, merger, scission. Law harmonization and local specificities a case study. Adopted on april 17,1997 and enforced by derogation on january 1st, 1998. Release of the official english translation of ohada. Ohada accounting plan is a regulatory framework of accounting applicable in states which are part of the ohada treaty. Article 81 of title 4 of that act states that a company is automatically deemed to be making a public call for capital if its securities are distributed.
Ohada is a system of business laws and implementing institutions adopted by. The new uniform act will replace the previous one, which was enacted on 10 april 1998 and has regulated all matters relating to insolvency law in all 17 ohada member states. The revised code adds tailwind to a fast developing market and further incentivizes investors, including private equity investors, to enter the dynamic african markets. The uniform act on arbitration is also inadequate for the informal sector because of the excessive cost of arbitral procedures. Pursuant to article 10 of the ohada treaty, uniform acts are and branches set up. Uniform act relating to commercial companies and economic group partnerships. Ohada is a system of corporate law and implementing institutions adopted by seventeen west and central african nations in 1993 in port louis, mauritius.
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. Apr 11, 2019 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. All books are in clear copy here, and all files are secure so dont worry about it. Congo, democratic republic 4legal regime privacy shield. In response to the current local reality since many disputes are between ohada member states and private parties, the scope of the act has been expanded on two counts. 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. Application of the ohada accounting system by companies in. The draft ohada uniform act on con tracts is based on the model of the unidroit principles of international commercial contracts rather than on the french civil code, and the working party included a. Uniform act on the law of commercial companies and the economic interest grouping of ohada. Ohada uniform act also introduced provisions in cross border insolvency that.
Ohada uniform act relating to general commercial law 3 section 6 entry of ownership reserve clauses section 7 entry of leasing contracts chapter 2 effects of, and disputes relating to entry book iii commercial lease and businesses part 1 commercial lease preliminary chapter scope chapter 1 conclusion and duration of lease. This uniform act shall apply to every trader irrespective of whether he is a natural or corporate person and shall include all commercial companies of which a. Registre du commerce et du credit mobilier commercial registry. Article 81 of title 4 of that act states that a company is automatically deemed to be making a public call for capital if its shares are distributed beyond a radius of one hundred 100 persons. National legislators of the ohada member states have been left to fill the legal void.
Ohada has adopted the uniform act relating to commercial companies and the economic interest group. It shall also apply to an economic interest group, whose place of. Cameroon has been at the forefront of the implementation of this reform. Oct 27, 2015 ohada law, which is inspired by french law, has therefore been a key body of rules for companies operating in west africa. The uniform act on commercial companies and eig of november 30, 2014, which replaces the initial text of april 17, 1997, introduces many innovations in the formation and life of commercial companies in the geographic area of ohada. Ohada uniform act relating to general commercial law. A new ohada uniform act on insolvency and restructuring in. Ohadas 17 african states adopt the uniform act on mediation.
Uniform act relating to general commercial law adopted on april 17,1997 and enforced by derogation on january 1st, 1998. The ohada accounting system is a unified and harmonized system of business law in several african countries and has relied on international standards that can improve the understanding of financial statements by international and regional investors. Uniform acts dealing with the following issues are also applicable in member states. Mar 21, 2020 read online ohada uniform act relating to commercial companies and.
An impact assessment of ohada reforms uniform an impact assessment of ohada reforms uniform acts on commercial, company, secured transactions, and insolvency. The uniform act on commercial companies does not, however, provides any further practical details on the implementation of these rules. The uniform act on the commercial companies law and the gie economic interest group of 17 april 1997 was revised by the new uniform act adopted on 30 january 2014 and published in the official gazette of ohada organisation for the harmonisation of business law in africa on 4 february 2014. Ohada includes 17 member states member state of west and central africa, almost all of. The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the ohada official gazette on 4 february 2014.
May 12, 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. Ohada, uniform act relating to general commercial law translex. A revised uniform companies code for the 17 african countries. Ohada is a system of corporate law and implementing institutions adopted by seventeen west. Compilation of treaties and uniform acts official translation the usbased foundation for a unified business law in africa foubla, whose goal is to foster the advancement of ohada. The sellers liability for the nonconformity of goods in. All of the contracting states to the treaty are subject to this act, which was revised on 30 january 2014.
Ohada introduces revised uniform act on commercial. The council of ministers of the organization for the harmonization of business law in. Preliminary chapter scope article 1 this uniform act shall apply to every trader irrespective of whether he is a natural or corporate person and shall include all commercial companies of which a state or person governed by public law is a member. 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. This innovation is far more important that that caused by the adoption of the european regulation. Ohada revises uniform act on commercial companies and gie. The uniform act on the commercial companies law and the gie economic interest group of 17 april 1997 was revised by the new uniform act adopted on 30 january 2014 and published in the official gazette of ohada organisation for the. Ohada uniform act relating to commercial companies and. Organization for the harmonization of business law in. The uniform act on commercial law in general was revised in 2010. A revised companies code was adopted by ohada on 30 january 2014 the uniform act on commercial companies and economic interest groups. The new ohada uniform act on security the reform of the former uniform act is one of the latest chapters in the history of the various ohada uniform acts the ohada uniform acts. Ohada organisation for the harmonization of business law.
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. Commercial companies and the economic interest group the corporate. A uniform act is the recollection of all relevant legal norms needed to ease business in the member states. A revised uniform companies code for the 17 african. 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. The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the. Reform of ohada uniform act on commercial companies law enacted. The drcs current legal framework relating to commercial companies stems from. 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. Act relating to the law on commercial companies and economic interest.
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. A desire for broad implementation of the uniform act to disputes involving states and private parties. Feb 24, 2014 legal integration in francophone africa results in particular from the uniform acts adopted by the organization for the harmonization of business law in africa ohada, established by the treaty signed in port louis mauritius on 17 october 1993 as amended in quebec on 17 october 2008. 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. Ifcs ohada investment climate program 20072017 an impact. Ohada is the acronym for the french organisation pour lharmonisation en afrique du droit des affaires, which translates into english as organisation for the harmonisation of corporate law in africa. Read online ohada uniform act relating to commercial companies and. All of the contracting states to the treaty are subject to this. The most critical tool for legal integration is the uniform act. This client alert also includes the following articles.
The author describes how ohada has made an effort more recently to better adjust certain rules to the informal economy. Ohada uniform act relating to commercial companies and economic interest groups, bonds are negotiable instruments which, for one and the same issue, shall confer the same rights to a claim for the same face value. 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 ohadas official gazette ohada uniform act relating to cooperative companies law. General commercial law, commercial companies and economic interest groups, secured transactions law, debt. 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. 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 its core corporations law, the uniform act relating to commercial companies and economic interest groups known as the auscgie, with almost two. Uniform act organizing and harmonizing the undertakings accounts in ohada member countries uniform act relating to the transportation of goods by road the main uniform acts are currently under revision and two amended uniform acts relating respectively to general commercial law and to security interests have been adopted on 15 december 2010.
General commercial law, companies, secured transactions, bankruptcy, arbitration. Dec 21, 2017 while the uniform act on mediation was inspired by the 2002 uncitral model law on international commercial conciliation and takes into account benchmarks of international best practices, it has. General commercial law, commercial companies and economic. The commercial intermediary is a natural person or legal entity. 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. The amended uniform act relating to commercial companies and economic interest groups amended uniform act entered into force on 5 may 2014, bringing significant improvements to companies law applicable in the seventeen member states of the organization of harmonization of business law in africa ohada. Ohada uniform act on commercial companies and economic. Information such as bylaws, changes to capital, ownership, collateral regarding these firms is not yet accessible in the. The longawaited english version of the ohada treaty and ohada uniform acts has now been formally published in the special edition nov. This site is like a library, you could find million book here by using search box in the header. Ohada uniform act on commercial companies and economic interest groups 2014.
Revised uniform act on companies global legal monitor. Ohada introduces revised uniform act on commercial companies. Section 3 commitments made on behalf of a fully formed company prior to its registration. The ohada uniform act on insolvency proceedings provides a comprehensive framework not only for companies encountering financial difficulties and seeking relief from the pressing demands of creditors, but also for creditors to file their claims.
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