What is the Ohada Uniform Act?
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. The provisions of the former Act continue to apply to such companies until their articles of association are made compliant.
What are the 17 member states of OHADA?
There are presently 17 members States : Benin, Burkina Faso, Cameroon, Central African Republic, Comoros, Congo, D.R. Congo, Ivory Coast, Gabon, Guinea, Guinea-Bissau, Equatorial Guinea, Mali, Niger, Senegal, Chad and Togo..
What are the four types of companies provided by the Ohada law?
Three types of business structures are provided for in Ohada revised Commercial Company Law for these categories of projects : the sole holder private limited company (SARLU), the sole holder public limited company (SAU) and the sole holder simplified corporation (SASU).
What does OHADA seeks to achieve?
OHADA’s Mission: To harmonize business Law in Africa in order to guarantee legal and judicial security for investors and companies in its Member states. The Treaty’s main objective is to address the legal and judicial insecurity in Member States.
Why was the OHADA Uniform Act created?
OHADA was created in a context of acute economic crisis and a drastic fall of investment level in Africa. To achieve this, OHADA: produces a simple, up-to-date, harmonized and suitable business laws for its Member States, in order to facilitate business activities.
What is the full meaning of OHADA?
OHADA is the French acronym for “Organisation pour l’Harmonisation en Afrique du Droit des Affaires”, which translates into English as “Organisation for the Harmonization of Business Law in Africa”. It was created on October 17, 1993 in Port Louis, Mauritius. The OHADA Treaty is made up today of 16 Africans states.
What is the meaning of OHADA?
Whats the full meaning of OHADA?
OHADA is the French acronym for “Organisation pour l’Harmonisation en Afrique du Droit des Affaires”, which translates into English as “Organisation for the Harmonization of Business Law in Africa”. It was created on October 17, 1993 in Port Louis, Mauritius.
When and where was the OHADA Uniform Act created?
The Organization for the Harmonization of Business Law in Africa (abbreviated as OHADA) is an intergovernmental organization for legal integration. It was established by the Treaty of 17 October 1993 signed in Port Louis (Mauritius), as revised on 17 October 2008 in Quebec (Canada).
What are the organs of OHADA?
OHADA shall comprise the Conference of Heads of State and Government, the Council of Ministers, the Common Court of Justice and Arbitration and the Permanent Secretariat.
Why was OHADA created?
Set up by a treaty signed on October 17, 1993 in Port-Louis (Mauritius), OHADA’s purpose is to promote regional integration and economic growth and to ensure a secure legal environment through the harmonization of business law.
What’s the full meaning of OHADA?