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

¹ If the most re­cent an­nu­al ac­counts in­dic­ate that the as­sets less the li­ab­il­it­ies no longer cov­er half of the sum of the share cap­it­al, the stat­utory cap­it­al re­serve not to be re­paid to the share­hold­ers and the stat­utory re­tained earn­ings, the board of dir­ect­ors shall take meas­ures to rec­ti­fy the loss of cap­it­al. It shall take, where ne­ces­sary, fur­ther meas­ures to re­struc­ture the com­pany or shall re­quest the gen­er­al meet­ing to ap­prove such meas­ures if they fall with­in the com­pet­ence of the gen­er­al meet­ing.

² If the com­pany does not have an ex­tern­al aud­it­or, the most re­cent an­nu­al ac­counts must also un­der­go a lim­ited audit by a li­censed aud­it­or be­fore their ap­prov­al by the gen­er­al meet­ing. The board of dir­ect­ors shall ap­point the li­censed aud­it­or.

³ The audit re­quire­ment in para­graph 2 does not ap­ply if the board of dir­ect­ors ap­plies for a debt re­struc­tur­ing morator­i­um.

⁴ The board of dir­ect­ors and the ex­tern­al aud­it­or or the li­censed aud­it­or shall act with the re­quired ur­gency.