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Federal Act on the Amendment of the Swiss Civil Code (Part Five: The Code of Obligations)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
of 30 March 1911 (Status as of 1 January 2022)
Art. 654
III. Preference shares
1. Requirements
1 Pursuant to or by amendment of the articles of association, the general meeting may resolve that preference shares be issued or that existing shares be converted into preference shares.
2 Where a company has issued preference shares, further preference shares conferring preferential rights over the existing preference shares may be issued only with the consent of both a special meeting of the adversely affected holders of the existing preference shares and of a general meeting of all shareholders, unless otherwise provided in the articles of association.
3 The same applies to any proposal to vary or cancel preferential rights attached to the preference shares that were conferred pursuant to the articles of association.