DROIT AFRIQUE www.droit-afrique.com OHADA
# OHADA
# Amended treaty on the harmonization of business law in Africa
Treaty of 17 October 1993 signed at Port-Louis
[NB - Treaty of 17 October 1993 on the harmonization of business law in Africa signed at Port-Louis
Amended by the treaty of 17 October 2008 done at Quebec]
# High contracting parties to the treaty for the harmonisation of business law in Africa
Determined to make more progress on the path to African unity and to establish an atmosphere of trust conducive to the economies of States Parties with a view to setting up a new pole of development in Africa;
Reaffirming their commitment to establishing an African Economic Community;
Convinced that membership in the Franc Zone, a factor of economic and monetary stability constitutes a major asset for the progressive realisation of their economic integration which must be pursued within a larger African framework;
Convinced that achieving these objectives requires the enactment in the States Parties, of harmonised, simple, modern and adapted business law, in order to facilitate business activities;
Conscious of the fact that it is essential that this law be applied with diligence in order to guarantee legal stability of economic activities, encourage the growth of the latter and create favourable environment for investment;
Desirous of promoting arbitration as an instrument for the settlement of contractual disputes;
Determined to jointly put in greater effort towards improving the training of judicial and legal officers and auxiliaries of justice;
Amended treaty on the harmonization of business law in Africa
DROIT AFRIQUE www.droit-afrique.com OHADA
Hereby agree as follows :
# Title 1 - General provisions
Art.1.- The object of the present Treaty is to harmonise business law in the States Parties by the elaboration and adoption of simple modern common rules adapted to their economies, by setting up appropriate judicial procedures, and promoting arbitration as a means of settling contractual disputes.
Art.2.- For the purpose of the Treaty, business law shall include all regulations relating to company law, the definition and classification of traders, recovery procedures measures of enforcement, liquidation land administration proceedings and arbitration, labour law, accounting law, carriage and sales of goods, and any such other matters that the Council of Ministers shall unanimously decide, to include in accordance with the object of the Treaty and the provisions of Article 8 below.
Art.3.- (Treaty of 17 October 2008) The execution of the tasks laid down in the Treaty shall be ensured by an organisation known as the Organisation for the Harmonisation of Business Law in Africa.
OHADA shall comprise the Conference of Heads of State and Government, the Council of Ministers, the Common Court of Justice and Arbitration and the Permanent Secretariat.
The seat of OHADA shall be in Yaoundé in the Republic of Cameroon. It may be transferred to another place by decision of the Conference of Heads of State and Government.