Regulatory Alerts2000-06-28
Decision CM No. 00.0 Establishing a Registration Commission for Private Placement Bond Issues on the UMOA Regional Financial Market
The President of the West African Monetary Union's Council of Ministers issued Decision CM No. 00.0 to establish a registration commission for private placement bond issues on the UMOA regional financial market. This decision authorizes the Regional Council to levy a tiered registration fee based on mobilized capital, ranging from 1‰ for issuances up to one billion FCFA to 3‰ for those between one and ten billion FCFA. The fee structure applies proportionally across all issuance brackets, with the decision taking immediate effect upon signature on June 28, 2000.
WEST AFRICAN MONETARY UNION
COUNCIL OF MINISTERS
The President
DECISION CM NO. 00.0 ESTABLISHING A REGISTRATION COMMISSION FOR PRIVATE PLACEMENT BOND ISSUES 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 June 28, 2000 in Dakar,
the President of the Council of Ministers of the West African Monetary Union decides:
Article 1
The Regional Council is authorized to collect a fee for the registration of private placement bond issues conducted on the regional financial market.
Article 2
The registration fee for private placement bond issues is levied on the amount of mobilized capital.
Article 3
The calculation of the charges for the registration fee is calculated in tiers as follows:
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3‰ for issuances between 1 and 10 billion FCFA,
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2.5‰ for issuances between 0 and 20 billion FCFA,
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2‰ for issuances exceeding 20 billion FCFA,
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1‰ for issuances less than or equal to one billion FCFA.
Article 4
This decision takes effect from the date of its signature.
Done in Dakar, on June 28, 2000.
For the Council of Ministers
The President
[Signature]
Makhtar DIOP