When the general meeting authorizes the capital increase, it may delegate the board of directors or the general director, as the case may be, the authority to decide on the capital increase.
In such case, the general meeting sets the term/duration, which shall not exceed twenty-four (24) months, during which such authority may be exercised, and the overall ceiling for the increase.
The board of directors or the general director, as the case may be, is then conferred with the necessary powers to prescribe the terms of issuance, record completion of the resulting capital increases and, make the necessary amendments to the articles of association.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 152
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 567-1 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