Unofficial translaction
ARTICLE 150– Any deed recording the assignment of anenterprise must state:
1) for natural persons, the full civil status of the seller and buyer, and for legal entities,
their name, their enterprise, their legal form and address of their registered office;
2) the activities of the seller and the buyer;
3) their registration numbers in the Register of Commerce and Securities;
4) where applicable, the source of the enterprise with respect to the previous owner;
5) the state of liens, pledges and entries encumbering theenterprise;
6) turnoverfor eachofthree last financial years of exploitation, or since its acquisition if the
enterprise has not been operated for more than three years;
7) profits and losses during the same period;
8) theleaseannexedtothe deed stating its date, term, name and address of the lessor and the
assignor, where applicable;
9) the price agreed;
10) the location and and list of assets sold withthe enterprise;
11) The name and address of the notary or banking institution designated as escrow agent if
the sale takes place by private deed.
ARTICLE 151- Omission or inaccuracy of the above required particulars may result in the
cancellation of the sale if the purchaser so requests, and if he proves that such omission or
inaccuracy has substantially affected the integrity of the transferred enterprise and that he is
prejudiced therefrom.
Such request must be filed within the period of one year from the date of the establishment of the
deed.
ARTICLE 152-Any deed recording anenterprise assignment must be filed in a copy certified
trueby the seller or the buyer at the Register of Commerce and Securities.
It will be up to the seller and buyer to cause the entries which concern them to be amended.
ARTICLE153–Within exactly fifteendaysfrom its date,the deed recording the assignmentof the
enterprisemustbepublished at the behest ofthe buyer,in the form of notice in a newspaper
empowered to publish legal notices and circulatingwhere the seller is registered at the Register
OHADA / Uniform Act / Unofficial Translations
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