ECOWAS i) REVISED TREATY theremoval ofcontrols onthetransfer ofcapital among theMember States in accordance witha time-table determined by Council; ii) the encouragement of the establishment of national and regional stock exchanges; and iii) b) the interlocking of capital markets and stockexchanges. ensure that nationals of a Member State are given the opportunity of acquiring stocks, shares and other securities or otherwiseof investing in enterprises in the territories of other Member States; c) establish a machinery for the wide dissemination in the Member States of stock exchange quotations of each Member State; d) establish appropriate machinery for the regulation of the capital issues market to ensure its proper functioning and the protection of the investors therein. CHAPTER IX ESTABLISHMENT AND COMPLETION OF AN ECONOMIC AND MONETARY UNION ARTICLE 54 ESTABLISHMENT OF AN ECONOMIC UNION 1. Member States undertake to achieve the status of an economic union within a maximum periodof fifteen (15)yearsfollowing thecommencement of the regional trade liberalisation scheme, adopted by the Authority through its Decision A/ DEC. 1/9/ 83 of 20 May, 1983 and launched on 1 January, 1990. 2. Member States shallgivepriority totheroleof theprivate sectorandjoint regional multinational enterprises in the regional economic integration process. ARTICLE 55 COMPLETION OF ECONOMIC AND MONETARY UNION 1. Member States undertaketo complete withinfive (5) years following the creation of a Customs Union, theestablishment of aneconomic andmonetary unionthrough: i) the adoption of a common policy in all fields of socio-economic activity 34