Federal Act on the Amendment of the Swiss Civil Code

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 659

N. Own shares

I. Re­stric­tions on ac­quis­i­tion

 

1The com­pany may ac­quire its own shares only where freely dis­pos­able equity cap­it­al is avail­able in the re­quired amount and the com­bined nom­in­al value of all such shares does not ex­ceed 10 per cent of the share cap­it­al.

2Where re­gistered shares are ac­quired in con­nec­tion with a re­stric­tion on trans­fer­ab­il­ity, the fore­go­ing up­per lim­it is 20 per cent. The com­pany’s own shares that ex­ceed the threshold of 10 per cent of the share cap­it­al must be sold or can­celled by means of a cap­it­al re­duc­tion with­in two years.

1 Amended by No I of the FA of 4 Oct. 1991, in force since 1 Ju­ly 1992 (AS 1992 733; BBl 1983 II 745).

 
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