Federal Act on the Amendment of the Swiss Civil Code

¹Where there is more than one com­munity of cred­it­ors, the bor­row­er may pro­pose one or more of the meas­ures de­scribed in the pre­vi­ous Art­icle to the dif­fer­ent com­munit­ies of cred­it­ors sim­ul­tan­eously, sub­ject to the pro­viso that, where one such meas­ure is pro­posed, it will be val­id only if ac­cep­ted by all the com­munit­ies of cred­it­ors and that in ad­di­tion, where two or more such meas­ures are pro­posed, the valid­ity of each meas­ure is con­di­tion­al on ac­cept­ance of all the oth­ers.

²Pro­pos­als are deemed ac­cep­ted where they ob­tain the con­sent of per­sons rep­res­ent­ing at least two-thirds of the bond cap­it­al in cir­cu­la­tion of all such com­munit­ies of cred­it­ors com­bined and at the same time are ac­cep­ted by a ma­jor­ity of the com­munit­ies of cred­it­ors and, with­in each com­munity of cred­it­ors, by at least a simple ma­jor­ity of the bond cap­it­al rep­res­en­ted.