Pursuant to article 10 of the ohada treaty, uniform acts are and branches set up. Ohada corporate law reform the ohada council of ministers adopted a new uniform act on commercial companies and economic interest groupings on 30 january 2014. Pdf assessment of compliance with ohada uniform accounting. December 15, 2010 in lome togodate of publication in the ohada official gazette. Read online ohada uniform act relating to commercial companies and. Release of the official english translation of ohada. Article 9 uniform acts shall enterinto force ninety days from the date of adoption, subject to contrary provisions in a particular uniform act the uniform acts shall be enforceable within thirty clear days followingtheir publication in the ohada official gazette. The content appearing on this site is for general information purposes only and made available on an asis basis. 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. The revised act is a complement to the 2010 ohada reform of the uniform act organizing security interests.
The conseil comptable oest africain ccoa is authorized by waemu. 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. Download ohada uniform act relating to commercial companies and. The council of ministers of the member states1 of thetreaty for the organization for the harmonization ofbusiness law in africa ohada adopted a newuniform act on security on 15 december 2010 thenew uniform act. Ohada updates its law on arbitration and implements a new. The longawaited english version of the ohada treaty and ohada uniform acts has now been formally published in the special edition nov. New ohada uniform act on accounting law and financial. In addition to their compliance with the 2014 standards, these secured templates drafted by professionals of ohada law.
Theuniformactorganisingcollectiveproceedingsfor 2 thewipingoffdebts 2. Support is provided by the ohada common court for justice and arbitration based in abidjan, cote divoire which can rule on the application and interpretation of the uniform arbitration act. Ohada member state are given final and binding status in all ohada member states, on a par with a judgment of a national court. The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the. The deadline of 5 may 2016, set by the organization for the harmonization of business law in africa s ohada s new uniform act the act on the law of companies and groups of economic interest for harmonizing corporate articles of association with the provisions of theact is approaching. The revised code adds tailwind to a fast developing market and further incentivizes investors, including private equity investors, to enter the dynamic african markets. Pdf icon organization for the harmonization of business law in africa. A revised uniform companies code for the 17 african. His publications include the commentary on ohada uniform act on arbitration law. Arbitral awards are given final and binding status in all ohada member states, on a par with a judgment of a national court. 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. A revised companies code was adopted by ohada on 30 january 2014 the uniform act on commercial companies and economic interest groups.
Published in the ohada officialjournal on 15 february 2011, the new uniform actentered into effect automatically in each member state,without any further formalities, on. Law in africa, which was founded on 17 october 1993 with the port. Abstention shall not prevent the adoption of the uniform acts. The uniform act on arbitration was adopted on march 11, 1999, and entered into force on june 11, 1999. He is the former secretary general of the court of arbitration, ivory coast chamber of commerce and industry. Organisation for the harmonization of business law.
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. 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. Pdf francophone african countries have made a tremendous effort in. Almost 18 years after the uniform act on ohada arbitration law was adopted and the common court of justice and arbitration created the ccja, the ohada council of ministers has adopted three new, very important, texts for arbitration and dispute resolution within the ohada area. The act will enter into force on june 30 and be directly enforceable in the 17 subsaharan ohada member states. Passed this deadline, any interested partymay file a motion with the competent court so as to order compliance with. Ohada uniform arbitration act along similar lines to the uncitral model law. The new ohada uniform act on security clifford chance. Ohada is the french acronym for the organisation for the harmonisation of business. Publiclimitedcompanies compliance with oh ada uniform act improved from 2008 to 2009 2. Ohada uniform act relating to commercial companies and economic interest group 9 section 2 rights of the auditor chapter 4 liability of the auditor chapter 5 temporary or permanent impediment of the auditor subtitle 8 winding up of public limited companies subtitle 9. 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 entered into exclusively between financing institutions, may be subject to specific legislations. Ohada uniform act relating to general commercial law.
The new ohada uniform act on accounting law and financial information was signed in brazzaville on 26 january 2017. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of the. Favouring alternative dispute resolution mechanisms, the ohada council of ministers adopted on 23 and 24 november 2017 three major texts. Innovations to the act in late 2015 seek to modernize and simplify collective proceedings in ohada member states. Ohada uniform act relating to commercial companies and. Ohada is a system of corporate law and implementing institutions adopted by seventeen west and central african nations in 1993 in port louis, mauritius. The french legal transplants of the revised uniform act on secured. The deadline of 5 may 2016, set by the organization for the harmonization of business law in africas ohadas new. Such transactions shall however be enforceable against the person under a ban. Harmonization of business laws in africa ohada af p164728. Uniform act on arbitration the council of ministers of the organization for the harmonization of business law in africa ohada, having regard to the treaty for the harmonization of business law in africa, signed on 17 october 1993 in port louis, as amended on 17 october 2008 in quebec, in particular its articles 8, 21, 26 and 39.
The ohada organisation pour lharmonisation en afrique du droit des affaires treaty is one of the legal reforms in africa aimed at promoting a stable business environment and the expeditious resolution of disputes, by harmonising commercial law within its seventeen 17 member states with a set of uniform acts. The work of ohada ohada is the acronym in french of the organisation for the harmonisation of commercial law in africa. Ohada reform of uniform act organizing security interests. Publiclimitedcompanies in ohada me mber countries comply with the ohada uniform accounting act. Uniform act on general commercial law date and place of adoption. Provides for the recognition and enforcement of arbitration agreements and arbitral awards. 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. The authors conclude that in making ohada law effective, member states face. Organization for the harmonization of business law in. 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. Subject to the special provisions of this uniform act, real securities may be. New ohada uniform act streamlines collective insolvency.
Ohada introduces revised uniform act on commercial. The act now includes provisions for information technologies that contribute towards the smooth running of companies. A new ohada uniform act on insolvency and restructuring in. Ohada is the french acronym for the organisation for the harmonisation of business law in africa, which was founded on 17 october 1993 with the port. Insight energy, infrastructure and project finance in a. Ohada uniform act on arbitration arbitration notes. International finance corporation and the ohada permanent secretariat do not guarantee the accuracy of the data included in this work.
Future of ohadas uniform act on mediation 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. Burkina faso, ivory coast and senegal are quite familiar. 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. Accounting on march 23, 2000, and entered into force in phases on january 1. The deadline of 5 may 2016, set by the organization for the harmonization of business law in africas ohadas new uniform act the act on the law of companies and groups of economic interest for harmonizing corporate articles of association with the provisions of the act is approaching. Uniform act relating to general commercial law iii article 12 without prejudice to any other sanctions, transactions carried out by a person under a ban shall not be enforceable against third parties acting in good faith. Ohada uniform act also introduced provisions in cross border insolvency. Complying with the revised 2014 ohada uniform act on.
In order to ensure reliability, understandability, and comparability of information regarding accounting in ohada member nations, the organization for the harmonization of business law in africas ohada passed the uniform act organizing and harmonizing undertakings accounting systems. Revised uniform act on companies global legal monitor. This innovation is far more important that that caused by the adoption of the european regulation. Ohada llm thesis institute of comparative law, faculty of law. Organization for the harmonization of business law in africa ohada the uniform acts in brief. It shall also record documents which by the provisions of this uniform act and by those of the uniform act relating to commercial companies and economic. With regard to the rules to govern trade middlemens contracts, the ohada uniform act has an extensive approach taking into account at the same time its provisions, the standard rules of agency entailed in domestic laws which were maintained in force in this regard and the professional practises in. Dr boubacar sidiki diarrah, high judge, director of legal affairs ohada the innovations contained in the ohada uniform act on arbitration, dr achille ngwanza, member of the international court of arbitration of icc, partner jus africa, president of. Business law in africa ohada adopted a revised uniform act on commercial companies and economic interest groups the revised act. All books are in clear copy here, and all files are secure so dont worry about it. A new uniform act organizing collective proceedings for wiping off debts dated 10 september 2015 the uniform act has been published in the ohada official gazette on 25 september 2015 and will enter into force on 24 december 2015.