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

¹ A com­pany en­ter­ing in­to li­quid­a­tion re­tains its leg­al per­son­al­ity and its ex­ist­ing busi­ness name, al­beit with the words “in li­quid­a­tion” ap­pen­ded to it, un­til such time as its as­sets have been dis­trib­uted among the share­hold­ers.

² As of the com­pany’s entry in­to li­quid­a­tion, the powers of its gov­ern­ing of­ficers are lim­ited to such ac­tions as are ne­ces­sary to carry out the li­quid­a­tion but which by their nature may not be per­formed by the li­quid­at­ors.