Capital reduction may be achieved through reduction of the nominal value of equity interests, or reduction of the number of the equity interests.
Where there is an auditor, the capital reduction plan shall be communicated to him thirty (30) days prior to holding the extraordinary general meeting.
He shall share with the meeting his assessment of the causes and terms of the reduction.
In the event of written consent, the capital reduction plan shall be forwarded to members in the same conditions as those set forth in article 340 above.
The purchase of its own equity interests by the company is forbidden.
However, the meeting which decided the capital reduction not motivated by losses may authorize the manager to purchase a certain number of equity interests in order to cancel them.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 105
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 367 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
Report an error in this text
AI features are in beta
Where an official English or French text exists, we show it; where none does, we give
a translation, clearly marked as one and never presented as the official text. We make
every AI feature as accurate as we can, but it can be wrong and is not legal advice —
always check the cited official text.