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

¹ An as­sign­ment of a cap­it­al con­tri­bu­tion re­quires the con­sent of the mem­bers’ gen­er­al meet­ing. The mem­bers’ gen­er­al meet­ing may re­fuse con­sent without stat­ing its reas­ons.

² The art­icles of as­so­ci­ation made de­vi­ate from the fore­go­ing by:

1.

waiv­ing the re­quire­ment of con­sent to the as­sign­ment;

2.

stat­ing the grounds jus­ti­fy­ing re­fus­al of con­sent to the as­sign­ment;

3.

provid­ing that con­sent to the as­sign­ment may be re­fused if the com­pany of­fers to ac­quire the cap­it­al con­tri­bu­tion from the seller at its true value;

4.

pro­hib­it­ing any as­sign­ment;

5.

provid­ing that con­sent to the as­sign­ment may be re­fused if there is doubt that ob­lig­a­tions un­der the art­icles of as­so­ci­ation to make ad­di­tion­al fin­an­cial or ma­ter­i­al con­tri­bu­tions will be ful­filled and se­cur­ity re­ques­ted by the com­pany is not provided.

³ Where the art­icles of as­so­ci­ation pro­hib­it as­sign­ment or the mem­bers' gen­er­al meet­ing re­fuses to con­sent to the as­sign­ment, the right to resign for good cause is re­served.