(1) Securities acquired by local authorities at the floating of corporations
or through shareholding in State enterprises or private companies shall be issued
either in the form of registered shares or certificates.
(2) They shall be acquired on the basis of a resolution of the deliberative organ
of the local authority concerned and kept by the treasurer of the said authority, even
when they have been used as management collateral of the board of directors.
Official text
Spot-checked
In force from 24 December 2019
Source page 12
Section 53 of the Law No 2019/024 of 24 december 2019 bill to institute the general code of regional and local authorities/akn/cm/act/loi/2019-12-24/2019-024