OFFENCES RELATING TO THE MANAGEMENT AND
ADMINISTRATION OF THE COMPANY

According to article 888 of the OHADA Law of 2014, shall face a criminal charge those who knowingly negotiated:

1°) Shares not fully paid up;

2°) Shares issued for cash whose one-quarter of the nominal value has not been paid up.

Shall face a criminal charge, company management, who in the absence of inventory or through fraudulent inventory have knowingly distributed fictitious dividends to shareholders or members.

Shall face a criminal charge, company management who have knowingly, even in the absence of any distribution of dividends, published or presented to shareholders or members, to conceal the real situation of the company, summary financial statements not giving, for each fiscal year, a fair view of transactions of the fiscal year, of the financial situation and the assets of the company at the expiration of the said period.

Shall face a criminal charge, company management who have not filed, in the month following their approval, the summary financial statements.

Shall face a criminal charge, the manager of a private limited company, the directors, the chief executive officer, the general manager, the deputy general manager, the president of a simplified public limited company, the general director, or the deputy general director who, in bad faith, have used company assets or credit, knowing that it was contrary to its interests, for personal material or moral purposes or for the benefit of another legal entity in which they have a direct or indirect stake.

Shall face a criminal charge, company management who knowingly:

1°) Fail to include the company name on all company acts and documents destined for third parties;

2°) Fail to, immediately precede or follow the company name, in legible characters, by the company form, the amount of its stated capital, the address of its headquarters, and the registration number at the registry of commerce and securities.

Shall face a criminal charge, company management of a foreign company or a foreign national, whose branch, beyond a period of two (2) years, has neither been attached to an existing company or company to be formed under the laws of one of the States parties nor had been removed under the conditions outlined in article 120 of the OHADA Law.

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