Chapter II: Status of statutory auditors

Two or more commissaires aux comptes (statutory auditors) may form a société civile professionnelle (professional partnership) between themselves, for the joint practice of their profession. Such a partnership shall be known as a société civile professionnelle de commissaires aux comptes.

The Articles of Association comply with the requirements of articles 8, 11, 14, 15, 19, 20 and 24 de la loi n° 66-879 du 29 novembre 1966. They also state: 1° The surname, first names and domicile of each member; 2° The duration for which the company is formed; 3° The address of the registered office; 4° The nature and separate valuation of each of the contributions made by the…

Pursuant to Article 11 of law no. 66-879 of 29 November 1966, the articles of association shall organise the management and determine the powers of the managers.

The following may be contributed to the company, in ownership or in beneficial interest: 1° All intangible rights, whether movable or immovable; 2° All documents and archives and, in general, all movable objects for professional use; 3° Real estate or premises useful for the exercise of the profession; 4° All sums in cash; 5° The partners’ industry, which by virtue of the article 10 de la loi n° 66-879 du…

Company shares may not be pledged. Industry shares allocated to industry contributors are non-transferable and are cancelled when their holder loses his status as a partner for any reason whatsoever.

Company shares representing a cash contribution must be paid up, at the time of subscription, by at least half of their nominal amount. The surplus must be paid up, in one or more instalments, either on the dates provided for in the Articles of Association, or by decision of the members’ meeting and no later than two years from the company’s registration on the list. Within eight days of receipt,…

As an exception to articles 22, 24 and 26 du décret n° 78-704 du 3 juillet 1978 relatif à l’application de la loi n° 78-9 du 4 janvier 1978 modifiant le titre IX du livre III du code civil, la société est dispensée d’insérer dans un support habilité à recevoir des annonces légales les avis prévus auxdits articles.