In order to assess the quality of the shareholders and their good repute, COBAC in application of the 2016 regulation evaluates their financial standing and ensures that they are not affected by any of the prohibitions and incompatibilities provided for by the regulations in force.
The Information relating to the shareholder as a legal entity under private law includes in particular;
1. A notarized copy of the company’s articles of association.
2. The minutes of the deliberating body of the entity authorizing the subscription to the share capital of the new credit institution or the establishment of a subsidiary.
3. The list of company’s shareholders and, if applicable, their economic beneficiaries, detailing, for each of them, the number of shares held, the nominal value of the shares as well as the corresponding percentage of participation and the equivalence in voting rights.
4. Annual financial statements certified by the auditors, including the balance sheet and profit and loss accounts for the last three financial years.
5. The list of participants held in other credit institutions and in any other company with its head office in the CEMAC or abroad.
6. A declaration on honour by its legal representative indicating the origin of the funds to be invested and certifying that these do not come from illicit activities.
7. A document by which the legal entity under private law, when it is the majority shareholder, undertakes to support the development of the credit institution.