Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ The per­sons with au­thor­ity to rep­res­ent the com­pany may carry out any leg­al acts on be­half of the com­pany that are con­sist­ent with the com­pany’s ob­jects.

² A re­stric­tion of such au­thor­ity has no ef­fect as against bona fide third parties; any pro­vi­sions gov­ern­ing ex­clus­ive rep­res­ent­a­tion of the prin­cip­al place of busi­ness or a branch of­fice or gov­ern­ing joint rep­res­ent­a­tion of the com­pany that are entered in the com­mer­cial re­gister are ex­cep­tions to this rule.