Federal Act
on Collective Investment Schemes
(Collective Investment Schemes Act, CISA)

¹ An in­vest­ment fund is dis­solved:

a.

if it was formed for an un­lim­ited peri­od: on no­tice by the fund man­age­ment com­pany or the cus­todi­an bank;

b.

if it was formed for a fixed peri­od: on ex­piry of such peri­od;

c.

by or­der of FINMA:

1.

if it was formed for a fixed peri­od: based on reas­on­able cause, at the re- quest of the fund man­age­ment com­pany or the cus­todi­an bank,

2.

if the min­im­um as­sets fall be­low the re­quired amount,

3.

in the cases spe­cified in Art­icle 13 para­graph 3 et seq.

² A SICAV is dis­solved:

a.

if it was formed for an un­lim­ited peri­od: by res­ol­u­tion of the com­pany share­hold­ers, provided such res­ol­u­tion is car­ried by at least two thirds of the com­pany shares;

b.

if it was formed for a fixed peri­od: on ex­piry of such peri­od;

c.

by or­der of FINMA:

1.

if it was formed for a fixed peri­od: based on reas­on­able cause, by reso- lu­tion of the com­pany share­hold­ers, provided such res­ol­u­tion is car­ried by at least two thirds of the com­pany shares,

2.

if the min­im­um as­sets fall be­low the stip­u­lated amount,

3.

in the cases spe­cified in Art­icle 133 et seq.;

d.

in the oth­er cases spe­cified by the Act.

³ For the dis­sol­u­tion of sub­funds, para­graphs 1 and 2 ap­ply ac­cord­ingly.

⁴ The fund man­age­ment com­pany and the SICAV shall no­ti­fy FINMA of the disso- lu­tion forth­with, and shall an­nounce the dis­sol­u­tion in the me­dia of pub­lic­a­tion.