The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law
In recent decades, the technical handling of custody business in the OHADA region has undergone a lasting change. There has been a shift from a direct to an indirect holding system, in which the interests of an investor in respect of the underlying securities are recorded in the books of an intermed...
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| বিন্যাস: | Online |
| ভাষা: | ইংরেজি |
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Mohr Siebeck
2024
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| বিষয়গুলি: | |
| অনলাইন ব্যবহার করুন: | OCN: 1354205648 |
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| _version_ | 1869516373521072128 |
|---|---|
| author | Monsenepwo, Justin |
| author_browse | Monsenepwo, Justin |
| author_facet | Monsenepwo, Justin |
| author_sort | Monsenepwo, Justin |
| collection | Directory of Open Access Books |
| description | In recent decades, the technical handling of custody business in the OHADA region has undergone a lasting change. There has been a shift from a direct to an indirect holding system, in which the interests of an investor in respect of the underlying securities are recorded in the books of an intermediary (such as a bank or a securities firm). Under the law of all states within the OHADA region, the traditional conflict of laws rule for determining the enforceability of a securities pledge that occurs in the indirect holding system is the lex rei sitae (or the lex cartae sitae or the lex situs ) rule. However, the traditional lex rei sitae rule cannot be appropriately applied to a system where the dematerialised securities are held through multiple layers of intermediaries located in different jurisdictions. Yet, until the intermediated system and the collateralisation of intermediated securities in the OHADA region will continue to operate in somewhat legally murky waters, leading to more instability in the financial markets. Therefore, Justin Monsenepwoaims to find an appropriate and consistent approach that reflects the reality of the indirect holding system in the OHADA region. “This publication is essential reading for policy makers, academics, market participants, and legal practitioners in the OHADA region and beyond. I am convinced that its in-depth analysis of OHADA’s substantive and conflict of laws rules will go a long way in filling the gap in this area and encouraging further development in the future.” Christophe Bernasconi, Secretary General of the „Hague Conference on Private International Law“ – HCCH in the foreword |
| format | Online |
| id | doab-20.500.12854ir-133112 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | Mohr Siebeck |
| publisherStr | Mohr Siebeck |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1331122025-07-30T07:40:22Z The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law Monsenepwo, Justin Law Commercial Law Conflict of Laws Comparative thema EDItEUR::L Law::LN Laws of specific jurisdictions and specific areas of law::LNC Company, commercial and competition law: general::LNCB Commercial law thema EDItEUR::L Law::LB International law::LBG Private international law and conflict of laws thema EDItEUR::L Law::LA Jurisprudence and general issues::LAM Comparative law In recent decades, the technical handling of custody business in the OHADA region has undergone a lasting change. There has been a shift from a direct to an indirect holding system, in which the interests of an investor in respect of the underlying securities are recorded in the books of an intermediary (such as a bank or a securities firm). Under the law of all states within the OHADA region, the traditional conflict of laws rule for determining the enforceability of a securities pledge that occurs in the indirect holding system is the lex rei sitae (or the lex cartae sitae or the lex situs ) rule. However, the traditional lex rei sitae rule cannot be appropriately applied to a system where the dematerialised securities are held through multiple layers of intermediaries located in different jurisdictions. Yet, until the intermediated system and the collateralisation of intermediated securities in the OHADA region will continue to operate in somewhat legally murky waters, leading to more instability in the financial markets. Therefore, Justin Monsenepwoaims to find an appropriate and consistent approach that reflects the reality of the indirect holding system in the OHADA region. “This publication is essential reading for policy makers, academics, market participants, and legal practitioners in the OHADA region and beyond. I am convinced that its in-depth analysis of OHADA’s substantive and conflict of laws rules will go a long way in filling the gap in this area and encouraging further development in the future.” Christophe Bernasconi, Secretary General of the „Hague Conference on Private International Law“ – HCCH in the foreword In recent decades, the technical handling of custody business in the OHADA region has undergone a lasting change. There has been a shift from a direct to an indirect holding system, in which the interests of an investor in respect of the underlying securities are recorded in the books of an intermediary (such as a bank or a securities firm). Under the law of all states within the OHADA region, the traditional conflict of laws rule for determining the enforceability of a securities pledge that occurs in the indirect holding system is the lex rei sitae (or the lex cartae sitae or the lex situs ) rule. However, the traditional lex rei sitae rule cannot be appropriately applied to a system where the dematerialised securities are held through multiple layers of intermediaries located in different jurisdictions. Yet, until the intermediated system and the collateralisation of intermediated securities in the OHADA region will continue to operate in somewhat legally murky waters, leading to more instability in the financial markets. Therefore, Justin Monsenepwoaims to find an appropriate and consistent approach that reflects the reality of the indirect holding system in the OHADA region. “This publication is essential reading for policy makers, academics, market participants, and legal practitioners in the OHADA region and beyond. I am convinced that its in-depth analysis of OHADA’s substantive and conflict of laws rules will go a long way in filling the gap in this area and encouraging further development in the future.” Christophe Bernasconi, Secretary General of the „Hague Conference on Private International Law“ – HCCH in the foreword 2024-01-19T04:22:24Z 2024-01-19T04:22:24Z 2024-01-18T05:31:18Z 2023 book OCN: 1354205648 https://library.oapen.org/handle/20.500.12657/86999 9783161612824 https://directory.doabooks.org/handle/20.500.12854/133112 eng open access image/png image/jpeg image/jpeg image/jpeg Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International https://library.oapen.org/bitstream/20.500.12657/86999/1/external_content.pdf https://library.oapen.org/bitstream/20.500.12657/86999/1/external_content.pdf https://library.oapen.org/bitstream/20.500.12657/86999/1/external_content.pdf https://library.oapen.org/bitstream/20.500.12657/86999/1/external_content.pdf Mohr Siebeck Mohr Siebeck GmbH & Co. KG 10.1628/978-3-16-161283-1 10.1628/978-3-16-161283-1 fd53d82f-781e-4b7f-b7ca-ca2ff53a2156 Knowledge Unlatched 9783161612824 Knowledge Unlatched (KU) KU Open Services Mohr Siebeck GmbH & Co. KG open access |
| spellingShingle | Law Commercial Law Conflict of Laws Comparative thema EDItEUR::L Law::LN Laws of specific jurisdictions and specific areas of law::LNC Company, commercial and competition law: general::LNCB Commercial law thema EDItEUR::L Law::LB International law::LBG Private international law and conflict of laws thema EDItEUR::L Law::LA Jurisprudence and general issues::LAM Comparative law Monsenepwo, Justin The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title | The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title_full | The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title_fullStr | The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title_full_unstemmed | The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title_short | The Law Applicable to Security Interests in Intermediated Securities Under OHADA Law |
| title_sort | law applicable to security interests in intermediated securities under ohada law |
| topic | Law Commercial Law Conflict of Laws Comparative thema EDItEUR::L Law::LN Laws of specific jurisdictions and specific areas of law::LNC Company, commercial and competition law: general::LNCB Commercial law thema EDItEUR::L Law::LB International law::LBG Private international law and conflict of laws thema EDItEUR::L Law::LA Jurisprudence and general issues::LAM Comparative law |
| topic_facet | Law Commercial Law Conflict of Laws Comparative thema EDItEUR::L Law::LN Laws of specific jurisdictions and specific areas of law::LNC Company, commercial and competition law: general::LNCB Commercial law thema EDItEUR::L Law::LB International law::LBG Private international law and conflict of laws thema EDItEUR::L Law::LA Jurisprudence and general issues::LAM Comparative law |
| url | OCN: 1354205648 |
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