In the case of companies whose sole proprietorship is not authorized by this uniform Act, the ownership of all securities by a single member shall not entail the automatic dissolution of the company. Any interested party may petition the competent court for such dissolution if the situation is not regularized within a period of one (1) year. The competent court may grant the company a maximum period of six (6) months to regularize the situation. It may not order the dissolution where on the day of ruling on the merits of the case, the situation gets regularized.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 23
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 60 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.