Ohada uniform act on securities pdf

The registration of securities, essential to making banking and commercial. The council of ministers of the organization for the harmonization of business law in. Pdf ifrs adoption and the opinion of ohada accountants. The act now includes provisions for information technologies that contribute towards the smooth running of. Subject to the special provisions of this uniform act, real securities may be constituted by the debtor himself or by a third party to secure an obligation. Dicko and fortin 2014 investigated the level of ifrs knowledge among african accountants working in countries belonging to the organization for the harmonization of business law in africa ohada. Organization for the harmonization of business law in africa ohada. The deadline of 5 may 2016, set by the organization for the harmonization of business law in africas ohadas new. Uniform acts on commercial, company, secured transactions, and. Ohada uniform act relating to commercial companies and. Real securities may be granted by the debtor himself or by a third party to secure the obligation subject to special provisions of this uniform act. Under article 227, the uniform act repeals the uniform act organizing securities dated april 17, 1997 and only applies to security interests granted or constituted after its coming into force.

Organization for the harmonization of business law in africa ohada the uniform acts in brief. New categories of securities for the sas and sa were created. Uniform act on the territory of a state party where the debtor has his principal. Ohada uniform act relating to commercial companies and economic interest group 7 paragraph 5 vacancy on the board of directors paragraph 6 remuneration paragraph 7 end of the duties of directors subsection 2 powers of the board of directors paragraph 1 scope paragraph 2 regulated agreements paragraph 3 securities, guarantees and sureties. Energy, infrastructure and project finance february 2014 the new ohada uniform act in a nutshell legal integration in francophone africa results in particular from the uniform acts adopted. Although this concept of nationality was outlined in the original 1997 treaty, certain implicit provisions that were ambiguous have now been explicitly outlined or reformulated in the uniform act. Security interests governed by waterway, sea and air law, legal security interests other than those governed by this uniform act, as well as securities warranting the performance of agreements. The road to dematerialisation of securities in ohada law countries 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. Whatever the nature of the obligation guaranteed, the. The revised ohada uniform act on security law has been adopted on 15 december 2010, but it became effective in each of the then 16 member states on 16 may 2011 it specifies that the security granted before 16 may 2011 will continue to be governed by the former uniform act on security dated 17 april 1997. Request pdf on jan 1, 2008, nelson enonchong and others published demand guarantees under the ohada uniform act on securities find, read and cite.