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- W2891816118 abstract "This article presents an assessment of ten years of implementation of the African Harmonization of Business Law Treaty (OHADA) of 1993. The aim of the treaty was to create a united economic zone in Francophone Africa, especially with a view to inviting foreign investment. In a first part, the author describes the system from institutional and normative points of view. From an institutional point of view, two main institutions were set up: a Council of Ministers, and a Common Court of Justice and Arbitration. A Permanent Secretary is in charge of assisting the Council. A Regional Training Center for judges was also created. From a normative point of view and in order to gradually unify national business legislation, the Council is competent to adopt uniform acts (actes uniformes). Those acts do not need to be nationally implemented in order to come into force in member states, yet they have a degree of direct effect. They also take precedence over national legislation. It may be said that a whole new legal system had been put in place within just ten years. However, the author acknowledges that a great deal remains to be done to achieve the ambitious aims of the 1993 treaty. Existing bodies need to be reinforced and work on a more rational basis. Both the Council of Ministers and member states should ensure broader public acceptance of the uniform acts in force. Arbitration should be developed, and relationships with economic transnational organizations operating in the zone should be clarified. As features of criminal law within the new uniform business law are still lacking or underdeveloped, further effort should be made in this respect." @default.
- W2891816118 created "2018-09-27" @default.
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- W2891816118 date "2004-01-01" @default.
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- W2891816118 title "African Harmonization of Business Law" @default.
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