REPUBLIC OF CAMEROON PEACE – WORK – FATHERLAND
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2015/010 LAW No. ________________ OF 16 JUL 2015
TO AMEND AND SUPPLEMENT SOME PROVISIONS OF LAW No. 2010/1 OF 13 APRIL 2010 RELATING TO THE PROMOTION OF SMALL AND MEDIUM-SIZED ENTERPRISES IN CAMEROON
The Parliament deliberated and adopted, the President of the Republic hereby enacts the law set out below:
SECTION 1.- The provisions of Sections 1, 2, 3, 5 and 6 of Law No.2010/1 of 13 April 2010 relating to the Promotion of Small and Medium-Sized Enterprises in Cameroon are hereby amended and supplemented as follows:
"SECTION 1.- (new) (1) This law lays down general rules governing the promotion of small and medium-sized enterprises, abbreviated as "SMEs", in accordance with the Cameroon Investment Charter.
(2) SMEs shall be promoted through assistance for their establishment, incubation, growth and financing.
SECTION 2.- (new) (1) This law shall in particular be applicable to very small enterprises, small enterprises and medium-sized enterprises.
(2) After establishment and by number of full-time workers as well as turnover, enterprises shall be entered in the national SME register in one of the abovementioned categories and under conditions laid down by regulation.
(3) The national register shall constitute a database showing a list of SMEs operating in Cameroon. It shall be kept by the ministry in charge of SMEs or by any other body so authorized.
(4) Entry in the national SME register shall give entitlement to benefits under State programmes for SMEs.
(5) Only enterprises in which 51% of the registered capital is held by Cameroonian nationals shall enjoy SME promotion-related benefits.
SECTION 3.- (new) (1) For the purposes of this law, SME shall mean any enterprise, irrespective of branch of activity, employing at most 100 (one hundred) persons and having an annual pre-tax turnover of no more than CFAF 3,000,000,000 (three thousand million).
(2) An SME shall be deemed established if it meets the legal existence and procedural requirements provided for by the laws and regulations in force.
SECTION 5.- (new) A small Enterprise shall be an enterprise having 6 (six) to 20 (twenty) employees and an annual pre-tax turnover of above CFAF 15,000,000 (fifteen million) and no more than CFAF 250,000,000 (two hundred and fifty million).
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SECTION 6.- (new) A Medium-Sized Enterprise shall be an enterprise having 21 (twenty-one) to 100 (one hundred) employees and an annual pre-tax turnover of above CFAF 250.000.000 (two hundred and fifty million) and below CFAF 3,000.000.000 (three thousand million)".
SECTION 2.- This law which repeals all previous provisions repugnant thereto, shall be registered, published according to the procedure of urgency and inserted in the Official Gazette in English and French./-
YAOUNDE, 16 JUL 2015
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