The CFA Franc shall, within the meaning of this Uniform act, be the base currency. States Parties whose monetary unit is not the CFA, the equivalent in national currency initially shall be the one determined by the application of the parity in force between the CFA Franc and the national currency for those States Parties on the day of the adoption of this Uniform Act. Such conversion value shall be rounded to the next higher unit where the conversion shows a decimal number.

The Council of Ministers of the States Parties to the Treaty on the Harmonization of Business Law in Africa, at the proposal of the Finance Ministers of the States parties, shall, as and when required, examine and, where necessary, revise the amounts stated in this Uniform Act expressed in CFA Francs, in light of the economic and monetary developments in States Parties. The conversion value in national currency shall, where appropriate, be determined by the application of the parity in force between the CFA Franc and the national currency of those States Parties on the day of the adoption of the revised amounts in this Uniform Act.

This Uniform Act shall govern cooperatives, unions of cooperatives, federations of cooperatives, confederations of cooperatives and their networks that will be formed on the territory of one of the States Parties effective on the date of its entry into force in the State party concerned. However, the constituent formalities completed previously shall not be renewed.

Cooperatives, unions of cooperatives, federations of cooperatives, confederations of cooperatives and their constituted networks prior to the entry into force of this Uniform Act shall, unless otherwise provided for, be governed by these provisions. They are required to harmonize their Articles of Association with the provisions of this Uniform Act within a period of two years from its entry into force.

The purpose of harmonization shall be to repeal, amend and replace, where necessary, the statutory clauses contrary to the mandatory provisions of this Uniform Act and provide them with supplements warranted by this Uniform Act.

Harmonization may be realized by amending the old Articles of Association or by adopting redrafted Articles of Association.

Harmonization may be decided by the meeting of the members ruling under the conditions of validity of ordinary decisions notwithstanding any contrary legal or statutory provisions provided that only the substance of inconsistent clauses with this Uniform Act may be amended.

Where, for any reason whatsoever, the meeting of the members failed to reach a valid decision, the proposed harmonization of the Articles of Association shall be submitted to the approval of the competent court ruling further to a motion of the cooperative legal representatives.

Where harmonization is not required, it shall be recorded in the meeting of member shareholders whose deliberation shall be subjected to the same publicity formalities as the decision amending the Articles of Association.

Failing to harmonize the Articles of Association with the provisions of this Uniform Act within a period of two years from the date of its entry into force, statutory clauses contrary to these provisions shall be deemed unenforceable.

All legal provisions contrary to the provisions of this Uniform Act are hereby abrogated, subject to their transitional application for a period of two years from the date of entry into force of this Uniform Act, to cooperatives, their unions, federations, confederations and networks which failed to harmonize their Articles of Association with the provisions of this Uniform Act.

This Uniform Act shall be published in the Official Journal of OHADA within a period of sixty days from the date of its adoption. It shall also be published in the Official Journal of the States Parties, or by any appropriate means. It shall enter into force ninety days from the date of its publication in the OHADA Official Journal pursuant to Article 9 of the Treaty on the Harmonization of Business Law in Africa signed in Port Louis on 17 October 1993, as revised in Quebec City on October 17, 2008.