The withdrawal of funds from subscription in cash can take place only after the registration of the company with the registry of commerce and securities.
It is done, as the case may be/as appropriate, by the chief executive officer, the general manager or the general director upon presentation to the depositary of the certificate of the clerk or of the competent authority of the State party confirming the registration of the company with the registry of commerce and securities.
Any subscriber may, six (6) months after paying for the subscription, petition the competent court to rule expeditiously for the appointment of a director in charge of withdrawing the funds to pay back subscribers, after deduction of his costs for their distribution if, on that date, the company is not registered.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 113
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 398 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
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