REPUBLIC OF CAMEROON PEACE-WORK-FATHERLAND
DECREE NO. 2023/08500/PM OF 01 DEC 2023 fixing the terms of transfer of funds and securities vested in the Deposits and Consignments Fund
THE PRIME MINISTER, HEAD OF GOVERNMENT,
Mindful of Constitution;
Mindful of Law No 2008/003 of 14 April 2008 governing Deposits and Consignments;
Mindful of Law No 2017/010 of 12 July 2017 to lay down the general rules and regulations governing public establishments;
Mindful of Law No 2018/011 of 11 July 2018 to lay down the Cameroon Code of Transparency and Good Governance in public finance management;
Mindful of Law No 2018/012 of 11 July 2018 relating to fiscal regime of the State and other public entities;
Mindful of Law No 2023/011 of 25 July 2023 governing guarantees and debt recovery by public entities enjoying the treasury's preferential-rights
Mindful of Decree No 92/089 of 4 May 1992 to specify the duties of the Prime Minister, as amended and supplemented by Decree No. 95/145 of 4 August 1995;
Mindful of Decree No 2011/105 du 15 April 2011 to lay down the organization and functioning of the Deposits and Consignment Fund;
Mindful of Decree No 2011/408 of 9 December 2011 to organize the Government, as amended and supplemented by decree No 2018/190 of 2 March 2018;
Mindful of Decree No 2019/001 of 4 January 2019 to appoint a Prime Minister, Head of Government;
Mindful of Decree No 2023/036 of 20 January 2023 to appoint the Director-General of the Deposits and Consignment Fund,
HEREBY ORDERS AS FOLLOWS:
CHAPTER I
PURPOSE, SCOPE AND DEFINITIONS**
ARTICLE 1.- This Order sets the terms and conditions for the transfer of funds and/or securities vested in the Deposits and consignments Fund abbreviated "CDEC",
SERVICES DU PREMIER MINISTRE SECRETARIAT GENERAL DIRECTION DES AFFAIRES ADMINISTRATIVES ET DES REGULITES COPIE CERTIFIÉE CONFORME
and currently on deposit or consignment with public administrations, public or private institutions and companies, legal professions, individuals and other legal entities.
ARTICLE 2.- All natural persons or legal entities referred to in Article (1) above are required to transfer funds and/or securities from Deposits and Consignments to the open accounts of the CDEC's within six months of the signing of this decree.
ARTICLE 3.- For the purpose of this Order, the definitions of the terms below are as follows:
- Beneficiary: individual or legal entity receiving the funds;
- Term account / Term deposit: Account in which the funds deposited are blocked for a certain period against a remuneration provided for in the contract opening the account;
- Bank account: Account opened and held in its books by a credit or microfinance institution in the name of a natural or legal person for carrying out banking or related operations;
- Current account / Chequing account / Transaction account: Individual ordinary bank account used to deposit money, obtain means of payment and manage money;