Pursuant to article 35 of the uaa and article 34 of the ccja arbitration rules, these texts directly enter into force in the 17 ohada member states 90 days following their publication at the ohada official bulletin. The ohada council of minister made the decision in 2001 to go ahead, within a rapid time frame, with the unification of the following additional business and legal regulations. Adopted on 23 november 2017 to replace the initial text of 11 march 1999, the new uniform act on arbitration law uaa constitutes the ordinary law of arbitration for all ohada member states. The different fundamental limits that we can cite are mainly the absence of a real accounting law, no text. Revised uniform act on companies global legal monitor.
In addition to that intrinsic analysis, the paper also discusses the pertinence of a potential ohada competition law with regard to the preexisting regional competition laws applicable in. Oct 23, 2016 besides the striking lawyers say any translation of the ohada law done unilaterally by cameroon will not be authentic. 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. Ohada is the acronym in french of the organisation for the harmonisation of commercial law in africa.
Considering the report by the ohada permanent secretariat and the observations of the states parties. Dec 22, 2017 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. 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 legislation in english. Organisation for the harmonization of business law. The next regulations to be harmonized are labor law and consumer sales law. 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 ohada s official gazette ohada uniform act relating to cooperative companies law.
Uniform act on the law of commercial companies and the economic interest grouping of ohada. This innovation is far more important that that caused by the adoption of the european regulation. The ohada accounting system is a unified and harmonized system of business law in several african countries and has relied on international standards that can improve the understanding of financial statements by international and regional investors. 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. All of the contracting states to the treaty are subject to this. Ohada uniform act relating to commercial companies and. In addition to states, local governments and public establishments, any legal entity governed by public law may henceforth be a party to arbitration article 2. A in 1998 enriched the insolvency law with new procedures.
The globalization of the economy requires the harmonization of the laws and practices of. Ohada is the french acronym for organisation pour lharmonisation en afrique du droit des affaires, which translates into english as organisation for the harmonization of business law. The council of ministers of the organization for the harmonization in africa of business law ohada. Release of the official english translation of ohada treaty. African perspectives on competition law in the ohada.
Ohada includes 17 member states member state of west and. The authors are also grateful to maitre marieandree ngwe for her insights on ohada law. Ohada is a system of business laws and implementing institutions adopted by sixteen west and central african nations. External risks risks of starting business relations with business organisations not incorporated in compliance with ohada law with subsequent implications with regard to their comitments. Implementation of ohada laws in a bilingual and bijural. Ohada s main objectives of unifying its member states business law are then discussed against the backdrop of the objectives of a regional competition law.
Having regard to the treaty for the harmonization of business law in africa, signed on. 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. Having regard tothe treaty on the harmonization in africa of businesslaw, signed in port. Elected by ohada council of ministers at its november, 2017 session in conakry. This report has benefited from the communications and editorial support of pauline anna marie delay, dion benetatos, salima madhany, and lawrence henri christian mensah.
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. The revised uniform act, which replaces the uniform act of 17 april 1997, was published in the ohada official gazette on 4 february 2014. Initially established pursuant to a treaty adopted among 14 member states the ohada treaty, ohada membership. 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. Contents formation and functioning of commercial companies.
The ohada council of ministers adopts the uniform act on the organization and harmonization of the accounts of companies located in the states parties to the treaty of port louis. They argue that because cameroon only adhered to the ohada treaty she cannot on her own translate the law. Ohada is the french acronym for organization pour lharmonisation en afrique du droit des affaires, which. Ohada law, which is inspired by french law, has therefore been a key body of rules for companies operating in west africa. Dec 21, 2016 the longawaited english version of the ohada treaty and ohada uniform acts has now been formally published in the special edition nov. Date of publication in the official journal of ohada. The solution to enable an easy settingup of your ohada business structure with your non english speaking partners, efficiently. A new ohada uniform act on insolvency and restructuring in africa. Ohada permanent secretariat calls for the creation of an ohada afcfta area. Organization for the harmonization of african business law. Ohada law is also receptive to international soft law instruments, such as the uncitral model law on international commercial arbitration, 18 the international chamber of commerces uniform customs and practice for documentary credits, 19 and the picc. 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 member, as well as every economic interest.
Release of the official english translation of ohada. Ohada on the harmonization of business law in africa. The new uniform act will replace the previous one, which was enacted on 10 april 1998 and has regulated all matters relating to insolvency law in all 17 ohada member states. Application of the ohada accounting system by companies. Ifcs ohada investment climate program 20072017 an impact. Organisation for the harmonization of business law in. Ohada revises uniform act on commercial companies and gie the uniform act on the commercial companies law and the gie economic interest group of 17 april 1997 was revised by the new uniform act adopted on 30 january 2014 and published in the official gazette of ohada organisation for the harmonisation of business law in africa on 4 february. Mr esso in a solemn and symbolic manner handed 50 copies of the treaty creating ohada published in cameroon in 1997, 50 copies of the ohada uniform acts whose translation in english was published. Having regard to the report of the office of the permanent secretary and the comments of states parties.
The ohada insolvency law is derived primarily from the uniform act of 10 april 1998 organizing collective proceedings for wiping off debts. Harmonization with ohada law when renewed andor drafting of new trade middlemen contracts complying with ohada standards. Ohada amended treaty on the harmonization of business law in africa 2 hereby agree as follows. Ohada, uniform act relating to general commercial law translex. The council of ministers of the organization for the harmonization of business law in africa ohada, considering the treaty for the harmonization of business law in africa, in particular article s 2, 5 to 12 thereof. Indeed, before the date of signing of ohada october th, 1993, accounting practice which relied on those of ocam was obsolete, out of phase and certainly outdated. At the same time, ohada should encourage the production of original ohada books and documentation in english by common law jurists and scholars, and should facilitate collaboration between translators and ohada law experts from both common law and civil law jurisdictions. The council of ministers of the organization for the harmonization of business law in africa ohada, considering the treaty on the harmonization of business law in.
The deadline of 5 may 2016, set by the organization for the harmonization of business law in africa s ohadas new uniform act the acton the law of companies and groups of economic interest for harmonizing corporate articles of association with the provisions of theact is approaching. The usbased foundation for a unified business law in africa foubla, whose goal is to foster the advancement continue reading release of the. Ohada revises uniform act on commercial companies and gie. Application of the ohada accounting system by companies in drc, current status and prospects. Jun 01, 20 ohada law is also receptive to international soft law instruments, such as the uncitral model law on international commercial arbitration, 18 the international chamber of commerces uniform customs and practice for documentary credits, 19 and the picc. Foundation for a unified business law in africa translation subject to further correction december 2016 uniform act on the organization and harmonization of companies accounting act adopted on 22 february 2000 and published in the ohada oj n10 of 20 november 2000. Ohada is a system of business laws and implementing institutions adopted by seventeen west and central african nations. Only the english version translated by the ohada secretariat can be authentic. A new ohada uniform act on insolvency and restructuring.
Ohada accounting system and harmonization of accounting. 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. Manuscripts must be in english and no longer than 2530 pages. Compilation of treaties and uniform acts official translation. Law regulating contracts for the carriage of goods by road. Such transactions shall however be enforceable against the person under a ban. Ohada uniform act relating to general commercial law 8 a permanent or temporary general ban imposed by a court of one of the contracting states, whether the said ban is imposed as a principal or accessory penalty. Ohada uniform act of arbitration 2017 africa arbitration. With the entry into force of the african continental free trade area, a flagship project of the african union on 7 july, court activities. Case of the city of bukavu article pdf available january 2018 with 5,187 reads how we measure reads.
Ohada uniform act relating to general commercial law 6 preliminary chapter scope article 1. Ohada mindful of the treaty on the harmonization of business law in africa signed at port louis on. Organization for the harmonization of business law in africa, uniform act relating to general commercial law. Article 35 of the uaa provides that it is the arbitration law of the ohada member states. The business world in the ohada zone doing business, settle in the ohada zone news from ohada organization. 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. Application of the ohada accounting system by companies in. Ohada law has also been confronted with special challenges caused by multilingualism. Security law is an essential piece of legislation providing for various guarantees protecting creditors by securing the enforcement of the debtors obligations.
The ohada council of minister made the decision in 2001 to go ahead, within a rapid time frame, with the unification. Ohada uniform act relating to general commercial law. The scope of ohada law on trade middlemen contracts is rather large since it includes not only the conclusion of contracts by middlemen, but also any transaction carried out by the latter in view of concluding or performing thesaid contract, as long as. The longawaited english version of the ohada treaty and ohada uniform acts has now been formally published in the special edition nov. Ohada law and the arbitration to promote the economic development held in cairo on 6 december 2007. Having regard to the treaty on the harmonization in africa of business law, signed in port louis on october 17, 1993, as revised in quebec on october 17, 2008, particularly in articles 2, 5 and 10 and 12. Ohada is an organisation whose main aim is to harmornize accounting practice in africa. Law in africa ohada key innovations of the revised uniform act of 30 january 2014. Ohada is a system of corporate law and implementing institutions adopted by seventeen west and central african nations in 1993 in port louis, mauritius. Of business law in africa official bulletin special edition price 10. Problems on harmonization and unification of international. Ohada is the french acronym for organisation pour lharmonisation en afrique du droit des affaires, which translates into english as organisation for the harmonization of business law in africa.
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