Federal Act on Collective Investment Schemes

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Art. 36 Definition and duties

1SICAV is a com­pany:

a.
whose cap­it­al and num­ber of shares are not spe­cified in ad­vance;
b.
whose cap­it­al is di­vided in­to com­pany and in­vestor shares;
c.
for whose li­ab­il­it­ies only the com­pany's as­sets are li­able;
d.
whose sole ob­ject is col­lect­ive cap­it­al in­vest­ment.

2A SICAV shall have a min­im­um level of as­sets. The Fed­er­al Coun­cil de­term­ines the level and the peri­od with­in which it must be ac­cu­mu­lated.

3The SICAV may del­eg­ate in­vest­ment de­cisions only to per­sons who hold the au­thor­isa­tion re­quired for this activ­ity. Art­icles 14 and 35 of the Fin­an­cial In­sti­tu­tions Act of 15 June 20182 (Fin­IA) ap­ply mu­tatis mutandis.3

1 Amended by No I of the FA of 28 Sept. 2012, in force since 1 March 2013 (AS2013 585; BBl 2012 3639).
2 SR 954.1
3 In­ser­ted by by No I of the FA of 28 Sept. 2012 (AS2013 585; BBl 2012 3639). Amended by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS2018 5247, 2019 4631; BBl 2015 8901).

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