L'achat par la société de ses propres actions. Esquisse d'une étude comparative entre le droit français et le droit uniforme (ohada)

The problem of repurchase by societies of their own shares is a traditional question of the firm law which is the subject of a renewal of topicality. Indeed, can a firm become its own shareholder ? It is a paradoxical question. It is however what which the purchase by a firm of its own shares poses. The operation is indeed curious; it is indisputably dangerous for the society itself, for the creditors as for the associates. It also raises many problems of a legal nature. But if it however is allowed in practically all the modern legal systems of the liberal countries, in particular in French law and Uniform law (OHADA), it is compared to the international context dominated more and more by the financial system. Its legal authorization together with certain conditions of validity fits today in a context of creation of value for the shareholders, a new philosophy of relation between a company and its capital. The repurchase of shares is a regulating element of optimal allowance process of the market resources.