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UNIFORM ACT ON GENERAL COMMERCIAL LAW CHAPTER 1 DEFINITION OF TRADER AND COMMERCIAL TRANSACTIONS - PDF
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1 PRELIMINARY CHAPTER : SCOPE BOOK I : STATUS OF TRADER UNIFORM ACT ON GENERAL COMMERCIAL LAW CHAPTER 1 DEFINITION OF TRADER AND COMMERCIAL TRANSACTIONS CHAPTER 2 CAPACITY TO TRADE CHAPTER 3 ACCOUNTING OBLIGATIONS OF THE TRADER CHAPTER 4 BARRING BY LIMITATION BOOK II: TRADE AND PERSONAL PROPERTY CREDIT REGISTER PART I : COMMON PROVISIONS CHAPTER 1 GENERAL PROVISIONS CHAPTER 2 ORGANIZATION OF THE TRADE AND PERSONAL PROPERTY CREDIT REGISTER PART 2 : REGISTRATION IN THE TRADE AND PERSONAL PROPERTY CREDIT REGISTER CHAPTER 1 REGISTRATION CONDITIONS Section 1 Registration of individuals Section 2 Registration of companies and other corporate bodies Section 3 Common provisions for the registration of individuals and corporate bodies Section 4 Supplementary and secondary amending entries Section 5 Striking off the register CHAPTER 2 EFFECTS OF REGISTRATION AND DISPUTES Section 1 Effects of registration Section 2 Disputes relating to registration PART 3 : REGISTRATION OF SECURITIES OVER PERSONAL PROPERTY Section 2 Charge over business and registration of the preferential right of the seller CHAPTER 1 CONDITIONS FOR REGISTRATION OF SECURITIES OVER PERSONAL PROPERTY Section 1 Charge over shares Section 2 Charge over business and registration of the preferential right of the seller of a business Section 3 Charge over professional equipment and motor vehicles Section 4 Charge over stocks Section 5 Registration of preferential rights of the Treasury, the Customs Administration and Social Security Institutions Section 6 Registration of retention of title clauses Section 7 Registration of finance leases CHAPTER 2 EFFECTS OF, AND DISPUTES RELATING TO REGISTRATION 1
2 BOOK III : COMMERCIAL LEASE AND BUSINESSES PART 1 : COMMERCIAL LEASE PRELIMINARY CHAPTER - SCOPE CHAPTER 1 CONCLUSION AND DURATION OF LEASE CHAPTER 2 OBLIGATIONS OF THE LESSOR CHAPTER 3 OBLIGATIONS OF THE LESSEE CHAPTER 4 RENT CHAPTER 5 TRANSFER -/SUB-TENANCY CHAPTER 6 CONDITIONS AND FORMS OF RENEWAL CHAPTER 7 LEGAL TERMINATION OF LEASE CHAPTER 8 PROVISIONS RELATING TO MATTERS OF PUBLIC POLICY PART 2 : BUSINESSES CHAPTER 1 DEFINITION OF BUSINESS CHAPTER 2 METHODS OF BUSINESS OPERATION CHAPTER 3 TRANSFER OF BUSINESS BOOK IV : TRADE MIDDLEMEN PART 1 : COMMON PROVISIONS CHAPTER 1 DEFINITION AND SCOPE CHAPTER 2 ESTABLISHMENT AND SCOPE OF THE MIDDLEMAN'S MANDATE CHAPTER 3 LEGAL EFFECTS OF ACTS DONE BY THE MIDDLEMAN CHAPTER 4 TERMINATION OF THE MIDDLEMAN'S MANDATE PART 2 : THE COMMISSION AGENT PART 3 : THE BROKER PART 4 : COMMERCIAL AGENTS BOOK V : COMMERCIAL SALE PART 1 : SCOPE AND GENERAL PROVISIONS CHAPTER 1 SCOPE 2
3 CHAPTER 2 GENERAL PROVISIONS PART 2 : FORMATION OF A CONTRACT OF SALE PART 3 : OBLIGATIONS OF THE PARTIES CHAPTER 1 THE SELLER'S OBLIGATIONS Section 1 Obligation to deliver Section 2 Obligation relating to the conformity of the goods to the contract Section 3 Warranty CHAPTER 2 THE BUYER'S OBLIGATIONS Section 1 Payment of price Section 2 Taking delivery CHAPTER 3 PENALTIES FOR THE NON-COMPLIANCE WITH CONTRACTUAL OBLIGATIONS Section 1 General provisions Section 2 Sanctions for breach of the seller's obligations Section 3 Sanctions for breach of the buyer's obligations Section 4 Interest and Damages Section 5 Exemption from liability and interests Section 6 Effects of avoidance of contract Section 7 Barring by limitation PART 4 : EFFECTS OF CONTRACT CHAPTER 1 TRANSFER OF OWNERSHIP CHAPTER 2 TRANSFER OF RISKS BOOK VI : FINAL PROVISION 3
4 UNIFORM ACT RELATING TO GENERAL COMMERCIAL LAW The Council of Ministers of the Organization for the Harmonization of Business Law in Africa (OHADA), Mindful of the Treaty on the Harmonization of Business Law in Africa, in particular Articles 2, 5, 6, 7, 8, 9, 10, 11 and 12 thereof; Mindful of the report of the OHADA Permanent Secretariat and the observations of the Contracting States; Mindful of the opinion of the Common Court of Justice and Arbitration dated 7 April 1997; The Contracting States present have deliberated upon and unanimously adopted the Uniform Act set out below. PRELIMINARY CHAPTER : SCOPE Article 1: Every trader, be he an individual or a 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 group, whose place of business or registered office is situated on the territory of one of the Contracting States to the Treaty on the Harmonization of Business Law in Africa, (hereinafter referred to as "Contracting States"), shall be subject to the provisions of this Uniform Act. Besides, every trader shall be subject to the laws which are not contrary to the provisions of this Uniform Act applicable in the Contracting State of his place of business or registered office. Individuals or legal persons, and economic interest groups, set up or being formed on the date of entry into force of this Uniform Act must harmonize the conditions under which they operate with this new legislation within a period of two years from the date of publication of this Uniform Act in the Official Gazette. After this time limit, any party concerned may bring an action before the court of competent jurisdiction for such regularization to be ordered, if necessary under financial compulsion. BOOK I : STATUS OF TRADER CHAPTER I : DEFINITION OF TRADER AND COMMERCIAL TRANSACTIONS Article 2: Traders are persons whose regular occupation is to carry out commercial transactions. Article 3: Commercial transactions shall include: - the purchase of movable or immovable property for resale; - banking, stock-exchange, currency exchange, brokerage, insurance, and transit transactions; - contracts between traders for business purposes; - the industrial exploitation of mines, quarries and any natural resource deposit; - rental of movable property; 4
5 - manufacturing, transportation and telecommunication operations; - the operations of trade middlemensuch as commission, brokerage and agency, as well as middleman's operations relating to the purchase, underwriting, sale or rental of immovable property, businesses, shares in commercial companies or property development companies; and - transactions carried out by commercial companies. Article 4: A bill of exchange, a promissory note, and a warrant shall, by virtue of their form, also be considered as commercial transactions. Article 5: Proof of commercial transactions can be given by any means with respect to traders. CHAPTER 2 : CAPACITY TO TRADE Article 6: No person shall engage in trading as a regular occupation unless he has the legal capacity to trade. Article 7: A minor shall not have the status of trader or engage in trading unless he is emancipated. The spouse of a trader shall not have the status of trader unless he or she carries out the transactions referred to under Articles 3 and 4 above as a regular occupation and separately from those of his or her spouse. Article 8: No person shall engage in a commercial activity where he/she is subject to a particular status resulting into an incompatibility. There shall be no incompatibility unless it is provided for by a legal provision. The person relying upon the incompatibility shall be bound to provide proof of it. Transactions carried out by a person in a state of incompatibility shall nevertheless be valid with respect to third parties acting in good faith. Third parties may, if they decide, rely upon transactions carried out by a person who is in a situation of incompatibility, but the latter cannot rely upon such transactions. Article 9: The exercise of a commercial activity shall be incompatible with the exercise of the following duties or occupations: - civil servants and staff of public entities and Enterprises with State shareholding; - Court officials and Auxiliary officers of Justice: Barrister, Bailiff, Auctioneer, Stock Exchange Broker, Currency exchange agent, Notary, Court Registrar, Legal Administrator, and Liquidator; 5
6 - approved Chartered Accountant and approved Accounting Officer, Auditor, Consulting Lawyer, Ship-broker; - more generally, any occupation the exercise of which is subject to regulations forbidding the exercise of such activity concurrently with a commercial occupation. Article 10: No person shall carry on a commercial activity, directly or through an intermediary, where he is the subject of: - a permanent or temporary general prohibition imposed by a court of one of the Contracting States, whether the said prohibition is imposed as a principal or accessory penalty; - a prohibition imposed by a professional court; in this case, the prohibition shall apply only to the commercial activity concerned; - a definite sentence of imprisonment for a common law criminal offence or a non suspended sentence of not less than three months imprisonment for a misdemeanour against property or an offence in relation to economic or financial matters. Article 11: A temporary prohibition of more than 5 years, as well as a permanent ban, may be lifted, at the request of the convicted person, by the court that imposed the prohibition. Such request shall be admissible only after the expiration of a period of 5 years from the day the prohinition was imposed. The prohibition applicable to the bankrupt person shall end upon discharge, under the conditions and forms provided for in the Uniform Act regarding the collective procedures for the discharge of debts. Article 12: Without prejudice to other sanctions, transactions carried out by a person subject to a prohibition shall not be binding as against third parties acting in good faith. Good faith shall always be presumed. However, such transaction shall be binding as against the person subject to the prohibition. CHAPTER 3 : ACCOUNTING OBLIGATIONS OF THE TRADER Article 13: Every trader, whether he is an individual or legal person, shall keep a day book in which his commercial transactions shall be recorded on a daily basis. He shall equally keep a general ledger, with a general summary balance, as well as an inventory book. These books shall be kept in accordance with the provisions of the Uniform Act relating to the organization and harmonization of business accounting. Every corporate body which is a trader shall also comply with the provisions of the Uniform Act relating to the Law on commercial companies and economic interest groups and the Uniform Act relating to the organization and harmonization of business accounting. 6
7 Article 14: The day book and the inventory book shall mention the registration number of the individual or corporate body concerned in the Trade and Personal Property Credit Register. They shall be numbered and initialled by the President of the court of competent jurisdiction, or by the Judge delegated for this purpose. They shall be kept without blank spaces or alterations of any kind. Article 15: The trade books referred to under Article 13 above, which shall be regularly kept, may be admitted in evidence by the judge in disputes between traders. Article 16: In the course of a dispute, the Judge may order, even as a matter of routine, the presentation of trade books, with a view to extracting information concerning the dispute. Article 17: Every corporate body engaged in trading must also draw up, each year, a summary of its financial statements, in accordance with the provisions of the Uniform Act relating to the organization and harmonization of business accounting, and to the Uniform Act relating to commercial companies and economic interest groups. CHAPTER 4 : BARRING BY LIMITATION Article 18: Obligations resulting from commercial operations between traders or between traders and non-traders shall be barred after a period of five years if they are not subject to shorter limitation periods. 7
8 BOOK II : TRADE AND PERSONAL PROPERTY CREDIT REGISTER PART I : COMMON PROVISIONS CHAPTER I : GENERAL PROVISIONS Article 19: The purpose of the Trade and Personal Property Credit Register shall be: 1) for the registration of a) individuals having the status of trader, within the meaning of this Uniform Act; b) commercial companies and other corporate bodies subject to registration, as well as branches of foreign companies operating on the territory of the Contracting State. The register shall also record entries and information on changes in the status and legal capacity of individuals and corporate bodies that have occurred since their registration. It shall also record documents the filing of which is provided for by the provisions of this Uniform Act and by those of the Uniform Act relating to the Law on commercial companies and economic interest groups. 2) for the registration of entries relating to : a) the the charge over shares; b) the over a business, and the preferential right of the seller of the business; c) the charge over professional equipment and motor vehicles; d) the charge over stocks; e) the preferential rights of the Treasury, the Customs Administration and Social Security Institutions; f) retention of title clauses; g) finance lease contracts. CHAPTER II : ORGANIZATION OF THE TRADE AND PERSONAL PROPERTY CREDIT REGISTER Article 20: The Trade and Personal Property Credit Register shall be kept by the Registry of the court of competent jurisdiction, under the supervision of the President or a Judge delegated for this purpose. Information entered in each Trade and Personal Property Credit Register shall be centralized in a National Data-Base. Information entered in each National Data-Base shall be centralized in a Regional Data-Base kept at the Common Court of Justice and Arbitration. Article 21: The Register kept at the court Registry shall comprise: 1) an in-coming register indicating in a chronological order the date and number of each admitted declaration, the full name, trade name or business name of the declarant, as well as the subject of the declaration; 8
9 2) a collection of individual files in alphabetical order comprising: a) for individuals: their full names, date and place of birth, the nature of activity in which they are engaged and the address of their principal place of business, as well as the addresses of branches set up within the jurisdiction of the relevant court for the registered office, or outside the said jurisdiction, all declarations, transactions and filed documents concerning them; b) for commercial companies and other corporate bodies subject to registration: their business name, legal form, nature of activity performed, address of the registered office as well as that of the registered office of branches set up within the jurisdiction of the relevant court for the registered office or outside such jurisdiction, all declarations, transactions and documents concerning them. Article 22: All declarations shall be drawn up in four originals on forms provided by the court Registry. The forms shall bear the signature of the declarant, or of his authorized agent who shall show proof of his identity and, unless he is a Barrister, Authorised person, Baillif, Notary or Receiver, hold a power of attorney signed by the declarant. The first original shall be kept by the Registry. The second shall be given to the declarant with indication of the date and description of the formality accomplished. The third and fourth originals shall be forwarded by the Registry to the National Data-Base which shall then send one of them to the Regional Data-Base. Article 23: In accordance with the provisions of Article 20 above, a National Data-Base shall be kept in each Contracting State, and a Regional Data-Base at the Common Court of Justice and Arbitration, each comprising an extract of each individual file in alphabetical order indicating: 1) for individuals: their full name, date and place of birth, nature of the activity in which they are engaged, address of their principal place of business, as well as the addresses of branches set up within the jurisdiction of the relevant court for the registered office and outside the said jurisdiction; 2) for commercial companies and other corporate bodies: their business name, legal form, nature of activity exercised, registered capital, address of the registered office and those of branches set up within the jurisdiction of the relevant court for the registered office and outside the said jurisdiction. Article 24: In addition, the following shall automatically be mentioned in the Trade Register: 1) decisions handed down in individual bankruptcy proceedings or in collective proceedings for the judicial settlement, legal redress or liquidation of property; 2) decisions handing down sanctions affecting the estate of managers and directors of corporate bodies; 3) discharge decisions or amnesty orders lifting disqualifications or prohibitions. The information provided for under this article shall be communicated by the court which handed down the decision, or failing this, by any interested person, to the Registries having jurisdiction over the place(s) where the secondary businesse(s) is/are located. 9
10 PART II : REGISTRATION IN THE TRADE AND PERSONAL PROPERTY CREDIT REGISTER CHAPTER I : REGISTRATION CONDITIONS Section 1 - Registration of individuals Article 25: Every individual having the status of trader as provided for in this Uniform Act shall, within the first month of operation of his business, apply to the Registry of the competent court within whose jurisdiction the business is operated for registration in the Trade and Personal Property Credit Register. The application for registration shall indicate : 1) the full name and personal address of the applicant; 2) his date and place of birth; 3) his nationality; 4) where applicable, the name under which he runs the business and the sign used; 5) the activity or activities carried out, and the form of operation; 6) the date and place of marriage, the type of marriage property option adopted, clauses binding on third parties restricting the free disposal of property of the spouses or the absence of such clauses, proceedings for separation of property; 7) the full name, date and place of birth, domicile and nationality of persons having the capacity to bind the applicant by their signature; 8) the address of the principal place of business and, if applicable, the address of each of the other subsidiaries or branches operated on the territory of the Contracting State; 9) if applicable, the nature and the place of operation of the activity of the last branches previously operated with an indication of their registration number (s) in the Trade and Personal Property Credit Register; 10) the date of commencement, by the applicant, of the operation of the principal business and, where applicable, the other branches. Article 26: The applicant shall be required to furnish the following documents in support of his declarations: 1) a copy of his birth certificate, or any administrative document proving his identity; 2) a copy of his marriage certificate, if relevant; 3) an extract of his criminal record, or failing this, any other document in lieu thereof; if the applicant is not a national of the Contracting State in which he is requesting registration, he shall also have to provide an extract of his criminal record from the authorities of his country of birth, and failing this, any other document in lieu thereof; 4) a residence permit; 5) a copy of the title deed or lease of the principal place of business, and where applicable, of the other branches; 6) in case of purchase of the business or management lease, a copy of the purchase certificate or the management lease deed; 7) if necessary, a prior authorization to operate the business. Section 2. Registration of companies and other corporate bodies Article 27: 10
11 The companies and other corporate bodies referred to in the Uniform Act relating to the Law on commercial companies and economic interest groups shall apply for registration in the Trade and Personal Property Credit Register, within a month of their formation, to the Registry of the court within whose jurisdiction their registered office is located. The application shall mention: 1) the name of the company; 2) where applicable, the trading name, acronym or sign; 3) the activity or activities carried out; 4) the form of the company or corporate body; 5) the amount of the registered capital with indication of the amount of contributions in cash and an evaluation of contributions in kind; 6) the address of the registered office, and where applicable, that of the principal place of business and of each of the other places of business; 7) the duration of the company or the corporate body as fixed by its articles of association; 8) the full name and domicile of business partners who have unlimited and personal liability for the company's debts, with an indication of their date and place of birth, nationality, date and place of marriage, the type of marriage property option adopted and clauses binding upon third parties restricting the free disposal of property of the spouses or the absence of such clauses, as well as proceedings for the separation of property; 9) the full name, date and place of birth, and domicile of managers, directors or partners with general power to bind the company or the corporate body; 10) the full name, date and place of birth and domicile of Auditors where their appointment is provided for by the Uniform Act relating to the Law on commercial companies and economic interest groups. Article 28: The following supporting documents shall, under the penalty of rejection, be attached to the application: 1) two certified true copies of the articles of association; 2) two originals of the validity and conformity certificate or of a certified true copy of a certificate of payment of shares; 3) two certified true copies of the list of managers, directors or partners having an unlimited liability and personally liable for the company's debts or with power to bind the company; 4) two extracts of the criminal record of the persons referred to in paragraph (3) above; if the applicant is not a national of the Contracting State in which he is applying for registration, he will also have to provide an extract of his criminal record from the authorities of his country of birth, and failing this, any other document in lieu thereof; 5) where necessary, a prior authorization to operate the business. Article 29: Every natural person or corporate body not subject to registration in the Trade and Personal Property Credit Register because of the location of his registered office shall, within one month month of the setting up of a branch or subsidiary on the territory of one of the Contracting States, apply for registration of such business. The application, which shall be submitted to the Registry of the court within whose jurisdiction such branch or subsidiary will be established, shall indicate: 1) the name of the branch or subsidiary; 2) if applicable, its commercial name, acronym or sign; 3) the activity or activities carried out; 4) the name of the foreign company that owns the said branch or subsidiary; its commercial name, acronym or sign; the activity or activities carried out; the form of the company or 11
12 corporate body; its nationality; the address of its registered office; if applicable, the full name and domicile of the business partners having an unlimited liability for the company's debts; 5) the full name, date and place of birth of the natural person resident on the territory of the Contracting State with power to represent and manage the branch. Section 3 - Common provisions for the registration of individuals and corporate bodies Article 30: Registration shall be personal, whether the trader is an individual or a corporate body. No person shall be principally registered in several registers or in the same register under several numbers. Once the applicant's application is complete, the court Registry shall assign him a registration number and shall mention it on the form given to him. The Registry shall then forward a copy of the individual file and the other documents deposited by the applicant to the National Data-Base. Article 31: Where the place of operation of a business or the registered office of a corporate body is transferred to the territory of another jurisdiction, an application shall be filed for: - such business or corporate body to be struck off the Trade and Personal Property Credit Register of the court within whose jurisdiction they were registered; - a new registration in the Trade and Personal Property Credit Register of the court within whose jurisdiction the place of operation of the business or registered office has been transferred; such registration shall only be final after the verification provided for under paragraphs 4 and 5 below. To this effect, individuals carrying on business shall submit information and documents in accordance with Articles 25 and 26 above; companies and other corporate bodies subject to registration shall submit information and documents in accordance with Articles 27 and 29 above. These formalities must be accomplished by the applicant within one month of the transfer. The Registry responsible for the Trade and Personal Property Credit Register within whose jurisdiction the trader has transferred his business - or where the company has transferred its registered office - shall, within one month of the new registration, ensure that the business or corporate body is struck off the Register by requiring that the latter produce an attestation issued by the Registry of the place of the previous registration. Where the applicant fails to act, the Registry shall by itself effect the change at the expense of the applicant. Article 32: Any registration, as well as any entry or indication establishing changes that have occurred since the date of their registration in the status and legal capacity of individuals or corporate bodies subject to registration, shall also be subject to a notice to be published in a newspaper authorised to publish legal notices within a month of entry of such formality. 12
13 The notice shall contain: - for individuals: the information provided for under Article 25 (1) to (6) above; and - for corporate bodies, the information provided for under Article 27 (1) to (9) above. Section 4 - Supplementary and secondary amending entries Article 33: Where the situation of a person subject to registration subsequently undergoes changes which require that the information entered in the Trade and Personal Property Credit Register be amended or supplemented, such person shall, within thirty days of the changes, file an application for such amending or supplementary entry. Any change concerning particularly the civil status, the marriage property option, the legal capacity and activity of an individual subject to registration, or specifically any change concerning the articles of association of a corporate body, shall be entered in the Trade and Personal Property Credit Register. Every application for a supplementary or secondary amending entry to the Register shall be signed by the person declaring the change or by an authorized agent who shall show proof of his identity and, where he is not a Barrister, Bailiff, Notary, Receiver or other auxiliary officer of Justice empowered by law for this purpose, shall hold a special power of attorney. Article 34: Every individual or corporate body subject to registration in the Trade and Personal Property Credit Register shall be bound, where he is operating secondary commercial businesses or branches within the jurisdiction of other courts, to apply for secondary registration within one month from the beginning of the operation. Such application shall mention, in addition to the reference to the principal registration, the information required: - for individuals, by Article 25 (1) to (6) above ; - for corporate bodies, by Article 27 (1) to (9) above. Article 35: The application shall be filed at the Trade and Personal Property Credit Register of the court within whose jurisdiction the secondary business is located. The Court Registry in charge of the Register shall forward within one month of the secondary registration, a copy of the application for secondary registration to the Court Registry in charge of the Register where the principal registration was effected. Every registration of a secondary business shall lead to a registration number being assigned, and shall be, within one month of such registration, published in a newspaper authorised to publish legal notices. Section 5 - Striking off the register Article 36: Every registered individual shall, within one month of cessation of his commercial activity, apply for removal from the Trade and Personal Property Credit Register. 13
14 In the event of death of a registered individual, his legal successorsmust, within a period of three months from the date of his death, apply for the cancellation of the registration in the Register, or for its modification, where they themselves have to continue to operate the business. Where the application for striking off is not filed within the time-limit referred to in the two preceding paragraphs of this article, the Court Registry shall strike off the business following a decision of the competent court before which the matter is brought at the request of the Registry or of any interested party. Every removal from the Register shall be published in a newspaper authorised to publish legal notices. Article 37: The dissolution of a corporate body for any reason whatsoever shall be declared, so that it should be entered in the Trade and Personal Property Credit Register within a period of one month at the Court Registry of the competent court where the corporate body is registered. The same shall apply in the case of nullity of the company, with effect from the date the decision pronouncing it is handed down. The liquidator must apply for the company to be struck off the Register within one month of the closure of liquidation operations. Where the request is not made within the prescribed deadline, the Court Registry of the competent court shall strike off the company upon a judgment of the competent court, given upon its own request or upon the request of any interested party. Every removal from the Register shall be published in a newspaper authorised to publish legal notices. CHAPTER 2 - EFFECTS OF REGISTRATION AND DISPUTES Section 1 - Effects of registration Article 38: Any person registered in the Trade and Personal Property Credit Register shall be presumed, save proof to the contrary, to have the status of trader within the meaning of this Uniform Act. However, such presumption shall not be applicable with respect to economic interest groups. Every individual or corporate body registered in the Trade and Personal Property Credit Register shall be bound to indicate on its invoices, order forms, list of prices and commercial documents, as well as on every correspondence its number and place of registration in the Register. Article 39: Individuals and corporate bodies subject to registration in the Trade and Personal Property Credit Register who have not applied for registration within the prescribed deadline, cannot claim, until they are duly registered, the status of trader. 14
15 However, they shall not rely on their failure to have themselves registered in the Register in order to avoid the liabilities and obligations inherent to that status. Article 40: Persons subject to registration in the Trade and Personal Property Credit Register may, in their commercial activities, rely on the deeds and documents subject to registration as against third parties and public services, which may however rely on them, only if such deeds and documents have been published in the Register. This provision shall not apply where the persons subject to registration proves that, at the time of the transaction, the third parties and services in question had knowledge of the deeds and documents concerned. Section 2 - Disputes relating to registration Article 41: The Court Registry in charge of the Trade and Personal Property Credit Register shall have the responsibility of ensuring that applications are complete and shall ascertain the conformity of the information they provide with the supporting documents attached thereto. If the Court Registry notices inaccurate information or experiences difficulties in the accomplishment of its task, it shall refer the matter to the competent court. Disputes between the applicant and the Court Registry shall also be referred to the said court. Article 42: Where the corporate body or an individual who is a trader fails to apply for registration within the prescribed time-limit, the competent court may, by itself or at the request of the Court Registry in charge of the Trade and Personal Property Credit Register, or any other applicant, take a decision ordering the party concerned to have his registration effected. The competent court may, under the same conditions, order any individual or corporate body registered in the Trade and Personal Property Credit Register to have either: - information added to or amended in the Register; - necessary information added or amendment made to the Register in case of an incorrect or incomplete declaration; - its removal from the Register effected. Article 43: Any person required to fulfil any of the formalities prescribed in this part but who fails to do so or who fulfils a formality under false pretences, shall be punished with the penalties provided by the national criminal law or, where applicable, by the special criminal law enacted by the Contracting State pursuant to this Uniform Act. PART III : REGISTRATION OF SECURITY OVER PERSONAL PROPERTY CHAPTER I : CONDITIONS FOR REGISTRATION OF SECURITY OVER PERSONAL PROPERTY Section I - Charges over shares 15
16 Article 44: Where the shares of a commercial company are charged, the secured creditor shall present to the Court Registry of the competent court within whose jurisdiction the company is registered: 1) the original copy of the security deed where it is a private document, or an authentic copy thereof where it is a notarial document or a court decision authorizing the creditor to have the charge entered in the Register. 2) four originals of a registration form indicating: a) the full name, business name, registered capital, domicile or registered office of the parties, as well as the registration number of the company whose shares are charged; b) the nature and date of the deed(s) deposited; c) the amount of money due on the last day preceding the registration and, where applicable, the conditions of payment of the debt; d) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Any modification by agreement or court order shall be subject to the registration of an amendment under the same conditions and forms as provided for the initial entry. Article 45: The Court Registry shall ascertain the form's conformity to the security deed presented. He shall then enter it in the in-coming register and, at the same time: 1) mention the entry in the individual file opened in the name of the company whose shares are concerned with this security entry; 2) file the deeds and an original of the declaration form that was given to him in the file kept in the name of the corporate body whose shares are concerned with this security entry; 3) give to the applicant the second original of his declaration, mentioning the date and the number of the entry. The third and fourth originals of the declaration form shall be forwarded to the National Data- Base which shall then send one of them to the Regional Data-Base. Section 2 - Charge over a business and registration of the preferential right of the seller of a business Article 46: If a charge is granted over a business, the secured creditor shall present to the Registry of the competent court within whose jurisdiction the corporate body or individual that/who owns or operates the business is registered: 1) the original copy of the security deed where it is a private document or an authentic copy thereof if it is a notarial document or a court decision authorizing the creditor to have the charge entered in the Register; 2) four originals of a registration form indicating: a) the full name, business name, domicile or registered office of the parties, as well as the registration number of corporate body or individual who owns or operates the business over which the registration is requested; b) the nature and date of the deed(s) deposited; c) a description of the business over which the charge is granted; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; 16
17 e) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 47: In the case of sale of the business, the seller may have his preferential right registered in the Trade and Personal Property Credit Register. To this effect, he shall present: 1) the original copy of the sale contract if it is a private deed, or an authentic copy thereof where it is a notarial document; 2) four originals of a registration form indicating: a) the full name, business name, domicile or registered office of the parties, and, where necessary, the registration number of the corporate body or the individual purchasing the business; b) the nature and date of the documents deposited; c) a description of the business over which the charge is granted in order to enable its identification; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 48: Where the charge or the preferential right of the seller concerns patents, trade marks, and industrial drawings and designs, it shall, in addition to the registration of the creditor's security under the conditions stipulated in Articles 46 and 47 above, comply with the specific provisions relating to industrial property. Article 49: The Court Registry shall ascertain that the form conforms to the security deed presented. He shall then enter it in the in-coming register and, at the same time: 1) mention the entry in the individual file opened in the name of the corporate body or the individual against whom the registration is made; 2) file the deed and an original of the declaration form that was given to him in the file kept in the name of the corporate body or the individual against whom the entry is made, mentioning the date and number of the entry; 3) give to the applicant the second original of his declaration endorsed by the Registry, mentioning the date and number of the entry. The third and fourth original of the declaration form shall be forwarded to the National Data- Base which shall then send one of them to the Regional Data-Base. Article 50: Any modification by agreement or court order of the security or preferential right shall be entered in the Register under the conditions and in the forms provided for the initial entry. Any application for the cancellation by court order of the sale of a business shall be recorded in advance in the Trade and Personal Property Credit Register, in accordance with the provisions stipulated for this purpose by the Uniform Act on the organization of securities. Section 3 - Charge over professional equipment and motor vehicles 17
18 Article 51: Where professional equipment belonging to a natural person or corporate body subject to registration in the Trade and Personal Property Credit Register is subject to a charge, the secured creditor shall present to the Registry of the competent court within whose jurisdiction the buyer is registered: 1) an original copy of the security deed where it is a private document, or an authentic copy thereof if it is a notarial document or a court decision authorizing the creditor to have the charge entered in the Register; 2) four originals of an entry form indicating: a) the full name, business name, domicile or registered office of the parties, as well as the registration number of the buyer against whom the entry is made; b) the nature and date of the deed(s) deposited; c) a description of the property to be charged to facilitate its identification and location, and an indication, where necessary, whether the property is likely to be moved; d) the amount of the money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 52: For vehicles subject to a certificate of entry into service or to an administrative registration, the seller shall present the following to the Registry of the competent court within whose jurisdiction the buyer is registered: 1) an original of the security deed where it is a private document, or an authentic copy thereof where it is a court decision authorizing the creditor to have it entered in the Register; 2) four originals of an entry form indicating: a) the full name, business name, domicile or registered office of the parties, as well as the registration number of the buyer against whom the entry is made; b) the nature and date of the deed(s) deposited; c) a description of the property charged in order to facilitate its identification; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 53: After ascertaining that the form conforms to the security deed presented, the court Registry shall register the security under the conditions stipulated in Article 49 above. Any modification by agreement or court order of the security shall be subject to an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Section 4 - Charge over stocks Article 54: Where security is granted over stocks, the chargor shall file the following at the Registry of the court within whose jurisdiction the individual or corporate body who owns the stocks charged is registered: 1) the original of the security deed where it is a private document, or an authentic copy thereof where it is a notarial deed or a court decision authorizing the creditor to have the deed entered in the Register; 18
19 2) four originals of an entry form indicating: a) the full name, business name, domicile or registered office of the parties, as well as the registration number of the corporate body or the individual who owns the charged stocks against whom the entry is made; b) the nature and date of the deed(s) deposited; c) a description of the stocks charged in order to facilitate their identification; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the secured creditor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 55: After ascertaining that the form conforms to the security deed presented, the court Registry shall enter the charge as stipulated in Article 49 above. The form handed to the applicant after entry shall bear clearly the indication "charge over stocks" and the date of issue thereof which shall correspond to the date of entry in the Register. Any modification by agreement or court order of the security shall subject to an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Section 5 - Registration of preferential rights of the Treasury, the Customs Administration and Social Security Institutions Article 56: In the case of the registration of the preferential right of the Treasury, the competent Public Accounting Officer shall present the following to the Registry of the competent court within whose jurisdiction the debtor is registered: 1) the original copy of the proof of debt, or the court ruling authorizing the Treasury to have the entry registered; 2) four originals of an entry form specifying: a) the full name, business name, domicile or registered office of the debtor, as well as his registration number; b) the nature and date of the debt; c) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; d) the Treasury's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. After ascertaining that the form conforms to the proof of debt presented, the Registry shall enter the preferential right under the conditions stipulated in Article 49 above. Any modification by agreement or court order of the preferential right shall be subject to an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Article 57: In the case of entry of the preferential right of the Customs Administration, the latter shall present the following to the Registry of the competent court within whose jurisdiction the debtor is registered: 19
20 1) the original copy of the proof of debt, or the court decision authorizing the Customs Administration to have the entry registered; 2) four originals of a registration form specifying: a) the full name, business name, domicile or registered office of the debtor against whom the entry is made, as well as his registration number; b) the nature and date of the debt; c) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; d) the Customs Administration's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. After ascertaining that the form conforms to the proof of debt presented, the court Registry shall enter the preferential right under the conditions stipulated in Article 49 above. Any modification by agreement or court order of the preferential right shall be subject to an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Article 58: In the case of entry of the preferential right of a Social Security Institution, the latter shall present the following to the Registry of the competent court within whose jurisdiction the debtor is registered: 1) the original copy of the proof of debt, or the court order authorizing the Social Security Institution to have the entry made; 2) four originals of an entry form specifying: a) the full name, business name, domicile or registered office of the debtor against whom the entry is made, as well as his registration number; b) the nature and date of the debt; c) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; d) the Social Security Institution's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. After ascertaining that the form conforms to the proof of debt presented, the Registry shall register the preferential right under the conditions stipulated in Article 49 above. Any notification by agreement or court order of the preferential right shall be subject to an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Section 6 - Retention of title clauses Article 59: A seller of goods who has an agreement or order form accepted by the buyer, clearly specifying a retention of title clause may have such clause registered in the Trade and Personal Property Credit Register. In this connection, he shall file the following at the Registry of the competent court within whose jurisdiction the buyer of the goods is registered: 1) a certified true copy of the deed specifying the retention of title clause; 2) four originals of an entry form specifying: 20
21 a) the full name, business name, domicile or registered office of the parties, as well as the registration number of the natural person or corporate body purchasing the goods which are subject to the retention of title clause; b) the nature and date of the deed(s) deposited; c) a description of the goods which are subject to the retention of title clause in order to facilitate their identification; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the election of domicile of the creditor benefiting from the retention of title clause within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 60: After ascertaining that the form conforms to the deed containing the retention of title clause, the Registry shall enter the retention of title clause under the conditions stipulated in Article 49 above. The Registry shall give the applicant an original of the form bearing clearly the indication " retention of title clause" as well as the number and date of the entry; Any modification by agreement or court order of the retention of title clause shall be subject to be an amending entry in the Register under the conditions and in the forms stipulated for the initial entry. Section 7 - Registration of finance leases Article 61: In the case of conclusion of a finance lease, the lessor may file the following at the Court Registry of the competent court within whose jurisdiction the corporate body or individual holding the finance lease is registered: 1) the original copy of the deed bearing the leasing contract where it is a private document, or an authentic copy thereof where it is a notarial document; 2) four originals of a registration form specifying: a) the full name, business name, domicile or registered office of the lessee, as well as his registration number; b) the nature and date of the document(s) filed; c) a description of the property which is subject to the finance lease, in order to facilitate its identification; d) the amount of money due on the last day preceding the entry and, where applicable, the conditions of payment of the debt; e) the lessor's election of domicile within the jurisdiction of the court where the Trade and Personal Property Credit Register is kept. Article 62: After ascertaining that the form conforms to the document presented, the Registry shall enter the finance lease contract as stipulated in Article 49 above. The form given to the applicant after registration shall clearly bear the indication "finance lease contract" and the date it is issued which shall correspond to the date of entry in the Trade and Personal Property Credit Register. 21
UNIFORM ACT ORGANIZING COLLECTIVE PROCEEDINGS FOR WIPING OFF DEBTS
UNIFORM ACT ORGANIZING COLLECTIVE PROCEEDINGS FOR WIPING OFF DEBTS UNIFORM ACT ORGANIZING COLLECTIVE PROCEEDINGS FOR WIPING OFF DEBTS The Council of Ministers of the Organization for the Harmonization