Lex Cameroon

Acte uniforme révisé portant organisation des sûretés › Title 5 › Chapter 2

SECTION 10

The deed appointing the agent may provide for the conditions under which the agent may employ a third party to accomplish, under his responsibility, his mission. In that case, the creditor may take action directly against such third party. The said deed may equally provide for conditions under which the agent may be replaced where he neglects his mission or where he puts into jeopardy the interests entrusted in him, or again, where collective proceedings have been instituted against him. In the absence of any contractual provisions to this effect, the creditormay, in the above-cited circumstances, pray the competent court to urgently appoint a temporary agent or have the agent replaced. Where the agent is replaced either as a result of a contractual clause or by order of court, all the rights and all the shares he held on behalf of the creditor shall be transferred as of right and with no other formality to the new agent.
Official translation Spot-checked In force from 15 December 2010 Source page 8

Spot-checked against the official gazette — not yet verified line by line. How Lex Cameroon marks its texts →

A question about this section?

Enter to send · Shift+Enter for a new line

Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Contents

Section 10 of the Acte uniforme révisé portant organisation des sûretés /akn/ohada/act/loi/undated/aus-2010
Report an error in this text