In accordance with Regulation No. COBAC R-2016/02 relative to the changes in the status of credit institutions, the application for authorization for acquisition, disposal or transfer of shareholdings which results in a change in the power of control of the applicant credit institution must include;
- A certified copy of the legal document setting out terms and conditions of the transaction between the parties involved;
- Where applicable, shareholders’ agreement;
- Notarized declarations of subscription and payment;
- The table showing the breakdown of the credit institution’s capital before and after the transaction;
- A study detailing the objectives of the transaction, the arrangements for its financing and its impact on the control of the target institution, particularly as regards its governance, commercial strategy, planned activities, outsourcing of activities, prudential situation, risk profile and exposure to new risks;
- The three year business plan;
The prior agreement or no objection opinion of the banking supervisory authority of the country of origin, where the acquirer is a credit institution, a group or a financial holding company whose registered office is outside CEMAC.