Law Todays

ACCESS TO LAND (mining operations)

According to the mining code of 2016, upon the signing of the mining agreement, the state shall after consultation with the affected populations, grant to the mining operator of the lands necessary for the mining of the discovered mineral substances in accordance with the laws and regulations in force. To be entitled to the land, …

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STATUS OF COMMERCIAL OPERATORS (Ohada)

The Ohada law contains provisions that are specifically applicable to persons and entities who habitually engage in commercial activities. Commercial operators have certain rights, specific requirements and liabilities which are not applicable to persons or entities which do not enjoy commercial status. Commercial operators are subject to rules regarding standard of proof and limitation periods …

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POSSESSION, TRANSPORTATION, PROCESSING AND MARKETING OF MINERAL SUBSTANCES (Mining operations)

The possession, transportation, processing and marketing of mineral substances be it derived from non-industrial or semi-mechanized non-industrial mining shall not be exercised by any person be it a physical person or moral person unless such a person is the holder of a valid individual non-industrial mining operator’s card, the individual collector card, a non-industrial mining …

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STATUTORY AUDITORS (Ohada)

A statutory auditor and a deputy must be appointed for every Public Limited Company, unless the company makes public offerings, in which case two auditors and two deputies must be appointed. The auditors must be convened at all general meetings. The first auditor and his deputy must be appointed in the articles of association or …

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TRANSFER OF SHARES (ohada)

Transfer of shares between shareholders or to close relatives of shareholders are unrestricted unless otherwise provided by the articles of association. Where the articles of association is silent on the issue of transfer of shares, Article 319 of the Ohada law Uniform Act makes such transfers subject to the consent of the majority of non-transferring …

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THE MANAGEMENT (MICRO FINANCE)

The management of a micro finance institution is the responsibility of managers. Managers of micro finance institutions have to be approved by the monetary authority after a favourable opinion from the Banking Commission. Every manager shall submit an application alongside supporting documents for approval by the monetary authority. According to Article 30 of Reg No/01/02/CEMAC/UMAC/COBAC …

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