Where a company other than a public limited company or a private limited company has, among its members, a public limited company or a private limited company that holds more than ten percent (10%) of its capital, the former may not hold shares or equity interests of the latter.
In the event that the interests of the public limited company or of the private limited company limited in the company are equal or less than ten percent (10%), it shall not hold more than ten percent (10%) of the capital of the public limited company or of the private limited company.
In both cases provided under this article, where the company other than the public limited company or the private limited company already owns securities of such public limited company or private limited company, it must transfer them. Until their actual transfer, shares or equity interests to be transferred will be deprived of voting rights and right to receive dividends.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 54
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 178 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014