SECTION 1

This Uniform Act shall apply to every Trader irrespective of whether he is a natural or corporate person and shall include all commercial companies of which a State or person governed by public law is a member. It shall also apply to an economic interest group, whose place of business or registered office is situated on the territory of a State which is a signatory to the Treaty for the Harmonization of Business Law in Africa (hereinafter referred to as “State party”). Furthermore, every trader shall be subject to those laws applicable in the States Parties where his place of business or registered office is located provided the said laws are not contrary to the provisions of this Uniform Act. Any natural or corporate person, as well as any economic interest group, which is either set up or which is in the process of being set up as at the date on which this Uniform Act enters into force shall harmonise the conditions under which they carry out their activity with this new legislation within a period of two years from the date of publication of this Uniform Act in the Official Gazette. Upon the expiry of such period, any interested party may bring an action before the court of competent jurisdiction for an order for such regularisation to be carried out, where necessary, upon the payment of a periodic monetary penalty.