CAMEROON Law and Practice Contributed by: Bayee A. Besong, Besong & Co
deputy general manager, or other corporate officer of the contracting legal person. Other Requirements • Remuneration of Corporate Directors: All share - holders have the right to be informed of the remu - neration paid to the ten (or five) best-paid corpo - rate officers and employees depending on whether or not the company’s workforce exceeds 200 employees. • Shareholding Structure: Every shareholder has the right to acquaint themselves with the list of share - holders at the registered office. • Transparency of Directors: The members of the Board of Directors must be identified in the articles of association. Their appointment must be pub - lished in the Trade and Personal Property Credit Register (RCCM). • Financial Reporting Requirements: One of the main responsibilities of the board of directors is to ensure that shareholders and other interested par - ties receive high-quality information on the financial and operating results of the corporate entity. • Publicity: The information, including the updated articles of association, must be filed with the Trade and Personal Property Credit Register (RCCM) to be accessible to third parties. It should be noted that listed companies are subject to strict transparency requirements, including the dis - closure of their capital structure, control mechanisms, and the composition of the board of directors. They must disclose any arrangements that offer dispropor - tionate control, often via an annual report or a govern - ance charter. 5.3 Incorporation and Registration Every company must be registered in the Trade and Personal Property Credit Register (RCCM). Companies must apply for registration within one month of their incorporation with the registry of the competent court in whose jurisdiction their registered office or principal place of business is situated.
This application must list the following: • the company name or the trade name or the appel - lation, as the case may be; • where applicable, the acronym or sign; • the activities carried out; • the form of the legal person; • where applicable, the amount of the share capi - tal, with an indication of the amount of the cash contributions and the valuation of the contributions in kind; • the address of the registered office, and, where applicable, that of the principal establishment and of each of the other establishments; • the duration of the company or legal person as set out in its articles of association or the founding text; • the surnames, first names and personal domicile of the partners held indefinitely and personally liable for the company’s debts, with mention of their date and place of birth, their nationality, where applicable, the date and place of their marriage, the matrimonial regime adopted and the clauses enforceable against third parties restricting the free disposal of the spouses’ property or the absence of such clauses, as well as applications for separa - tion of property; • the surnames, first names, date and place of birth, and domicile of the managers, officers, directors or partners with the general power to bind the legal person or group; • the surnames, first names, date and place of birth, domicile of the statutory auditors, when their appointment is provided for by the Uniform Act; and • any other indication provided for by a specific legal provision. Under Article 47 of the Uniform Act, the following sup - porting documents must be attached to this applica - tion: • a certified copy of the statutes or founding act; • the declaration of regularity and conformity or the notarial declaration of subscription and payment; • the certified list of managers, directors, officers or partners who are held indefinitely and personally
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