Where the underlying title holder fails to exercise his pre-emptive subscription right, the usufructuary may replace him to subscribe for the new shares or sell the subscription rights.
Where the usufructuary sells the subscription rights, the underlying title holder may demand reinvestment of the proceeds of the transfer. The assets, thus acquired, shall be subject to usufruct.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 155
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 583 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