Instruction No. 15/98 on the Cancellation of the Stock Exchange Transaction Levy

WEST AFRICAN MONETARY UNION
REGIONAL COUNCIL FOR PUBLIC SAVINGS AND FINANCIAL MARKETS

INSTRUCTION NO. 15/98 ON THE CANCELLATION OF THE STOCK EXCHANGE TRANSACTION LEVY

Having regard to the Convention of 3 July 1996 establishing the Regional Council for Public Savings and Financial Markets, hereinafter referred to as the Regional Council, Having regard to Article 15 of the annex to said Convention, Having regard to Decision No. 001/97 of the Council of Ministers of the West African Monetary Union, in its session of 28 November 1997, adopting the General Regulations on the Organization, Operation and Supervision of the UMOA regional financial market, hereinafter referred to as the General Regulations, Having regard to Article 3 of Decision No. 002/07/98 of the UMOA Council of Ministers, in its session of 2 July 1998, adopting the budgets for the financial years 1997 and 1998 of the Regional Council for Public Savings and Financial Markets, Having regard to Instruction No. 9/98 on the stock exchange transaction levy, Having regard to the deliberations of the Regional Council, in its session of 22 September 1998, THE REGIONAL COUNCIL HAS ADOPTED:

Article 1:
The levies on stock exchange transactions of 3‰ on capital and private bond securities and 2‰ on bonds issued by States and community bodies are hereby abolished.

Article 2:
All prior provisions contrary to this Instruction are hereby repealed, including in particular Instruction No. 9/98 on the stock exchange transaction levy.

Article 3:
This Instruction shall be published wherever necessary.

Done at Abidjan, on 22 September 1998
For the Regional Council
The President
L. NAKA