Federal Act
on Private International Law
(PILA)

¹ A for­eign com­pany may ac­quire a Swiss com­pany (ab­sorp­tion by emig­ra­tion) or form a new for­eign com­pany with a Swiss com­pany (com­bin­a­tion by emig­ra­tion), provided the Swiss com­pany can prove that:

a.

all of its as­sets and li­ab­il­it­ies will be trans­ferred to the for­eign com­pany with the mer­ger; and

b.

the equity and mem­ber­ship rights will be ad­equately main­tained in the for­eign com­pany.

² The Swiss com­pany must com­ply with all pro­vi­sions of Swiss law ap­plic­able to the trans­fer­ring com­pany.

³ The cred­it­ors must be in­vited to file their claims by pub­lic no­ti­fic­a­tion an­noun­cing the forth­com­ing mer­ger. Art­icle 46 of the Mer­gers Act of 3 Oc­to­ber 2003¹⁰¹ ap­plies by ana­logy.

⁴ All oth­er as­pects of the mer­ger are gov­erned by the law ap­plic­able to the for­eign ac­quir­ing com­pany.