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

¹ Each man­aging dir­ect­or has the right to rep­res­ent the com­pany.

² The art­icles of as­so­ci­ation may ad­opt al­tern­at­ive pro­vi­sions on rep­res­ent­a­tion, but at least one man­aging dir­ect­or must be au­thor­ised to rep­res­ent the com­pany. The art­icles of as­so­ci­ation may refer to reg­u­la­tions that set out the de­tails.

³ The com­pany must be able to be rep­res­en­ted by a per­son who is res­id­ent in Switzer­land. This per­son must be a man­aging dir­ect­or or a man­ager. They must have ac­cess to the re­gister of cap­it­al con­tri­bu­tions and to the re­gister of be­ne­fi­cial own­ers un­der Art­icle 697l.⁵⁶⁷

⁴ The rel­ev­ant pro­vi­sions on com­pan­ies lim­ited by shares ap­ply to the ex­tent of and re­stric­tions on the right to act as a rep­res­ent­at­ive and to con­tracts between the com­pany and the per­son that is rep­res­ent­ing it.

⁵ The per­sons au­thor­ised to rep­res­ent the com­pany must sign on its be­half by ap­pend­ing their sig­na­ture to the busi­ness name.

⁶ They must be entered in the com­mer­cial re­gister. They must enter their own sig­na­tures in per­son at the of­fice of the com­mer­cial re­gis­trar or sub­mit these in a duly au­then­tic­ated form.