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

¹ The con­sol­id­ated ac­counts of the fol­low­ing un­der­tak­ings must be pre­pared in ac­cord­ance with a re­cog­nised fin­an­cial re­port­ing stand­ard:

1.

com­pan­ies whose equity se­cur­it­ies are lis­ted on a stock mar­ket, if the stock mar­ket so re­quires;

2.

co­oper­at­ives with a min­im­um of 2000 mem­bers;

3.

found­a­tions that are re­quired by law to have an or­din­ary audit.

² Art­icle 962a para­graphs 1–3 and 5 ap­ply mu­tatis mutandis.

³ The con­sol­id­ated ac­counts of oth­er un­der­tak­ings are gov­erned by re­cog­nised fin­an­cial re­port­ing prin­ciples. In the notes to the con­sol­id­ated ac­counts, the un­der­tak­ing shall spe­cify the valu­ation prin­ciples. If it derog­ates from such rules, it shall give no­tice there­of in the notes to the ac­counts and provide the in­form­a­tion re­quired for as­sess­ing the as­set, fin­an­cing and earn­ings of the cor­por­ate group in a dif­fer­ent form.

⁴ Con­sol­id­ated ac­counts must non­ethe­less be pre­pared in ac­cord­ance with a re­cog­nised fin­an­cial re­port­ing stand­ard where:

1.

com­pany mem­bers who rep­res­ent at least 20 per cent of the ba­sic cap­it­al or 10 per cent of the mem­bers of a co­oper­at­ive or 20 per cent of the mem­bers of an as­so­ci­ation so re­quire;

2.

a com­pany mem­ber or an as­so­ci­ation mem­ber sub­ject to per­son­al li­ab­il­ity or a duty to pay in fur­ther cap­it­al so re­quires; or

3.

the found­a­tion su­per­vis­ory au­thor­ity so re­quires.