Thursday, September 3, 2020

Chapter 1. Organisation of the Commercial Register



Chapter 1. Organisation of the Commercial Register


Art. 86. - Local and central registers.


    The commercial register shall consist of:

1.    Local registers kept in each Taklay Guezat, and

2.    A central register kept at the Ministry of Commerce and Industry.


Art. 87. - Official commercial gazette.


1.    All principal or subsidiary entries and all complementary entries, alterations or deletions sent to the central register shall be published in the official Commercial Gazette.

2.    Regulations may permit of the publication of extracts only.


Art. 88. - Publicity.


1.    Publicity through the commercial register shall be effected, with regard to persons, by the entry of declarations made by such persons before the authorities responsible for keeping local registers. Entries in the commercial register shall have effect as from the working day following the day when the entry was made.

2.    The provisions of Book II of this Code shall apply to entries of declarations made by business organisations.


Art. 89. - Keeping of local registers.


    Local registers shall be kept in each Taklay Guezat by a person appointed by the Ministry of Commerce and Industry.


Art. 90. - Central Register.


1.    The central register shall be kept in Addis Ababa by a special department of the Ministry of Commerce and Industry which shall be known as the Department of the Central Commercial Register.

2.    The Department shall:

a.    Collect from all local registers all information relating to any registered person;

b.    Ensure that the provisions of the law regarding commercial registers are complied with;

c.    Ensure that publications under Art. 87 are effected;

d.    Receive and preserve such acts, documents and notices regarding business organisations as are provided in Book II of this Code.


Art. 91. - Liability.


    Officials in charge of commercial registers shall be personally liable for any damage caused by them or by employee appointed by them.


Art. 92. - Communication of entries to third parties.


    Any person on payment of the prescribed fee may require the official in charge of a local or the central register to deliver to him a copy of any extract from the register or, where there is no entry for which he is searching a certificate to the effect that there is no entry.


Art. 93. - Particulars on business papers.


    All registered traders shall specify on all papers used in their business the Taklay Guezat in which they are registered and their registration number. 

No comments:

Post a Comment

Cancellation of Contracts

   Cancellation of Contracts Cancellation is another remedy for non-performance. Cancellation brings an already existing contract to an end....