Regulatory Alerts2000-06-28
DECISION CM N° 2/06/2000
The Council of Ministers of the West African Monetary Union (UMOA) has issued Decision CM No. 2/06/2000 to establish the identification criteria for private placement bond issues traded on the UMOA regional financial market. The decision classifies as private placement all bonds that do not satisfy the Regional Council's General Regulations regarding public offerings. Furthermore, it mandates prior registration with the Regional Council for all such private placement bond issuances and establishes that the decision becomes effective upon its signature date.
WEST AFRICAN MONETARY UNION
COUNCIL OF MINISTERS
President
DECISION C. M. N° 016/2000 ON THE DETERMINATION OF IDENTIFICATION CRITERIA FOR PRIVATE PLACEMENT BOND ISSUES EMITTED ON THE UMOA REGIONAL FINANCIAL MARKET
Having reviewed the deliberations of the Council of Ministers of the West African Monetary Union at its session on 28 June 2000 in Dakar,
The Council of Ministers of the West African Monetary Union decides:
Article 1
All bond issues that do not meet the criteria for public offerings, as defined by the General Regulations of the Regional Council, shall be deemed private placement bond issues on the UMOA financial market.
Article 2
The issuance of private placement bond issues on the UMOA financial market is subject to prior registration with the Regional Council.
Article 3
This decision shall take effect from its date of signature.
Done in Dakar, on 28 June 2000.
For the Council of Ministers
The President
Makhtar DIOP