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

of 30 March 1911 (Status as of 9 February 2023)


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Art. 973c805

III. Un­cer­ti­fic­ated se­cur­it­ies

 

1 The ob­lig­or may is­sue un­cer­ti­fic­ated se­cur­it­ies or re­place fun­gible ne­go­ti­able se­cur­it­ies or glob­al cer­ti­fic­ates that have been en­trus­ted to a single bailee with un­cer­ti­fic­ated se­cur­it­ies provided the con­di­tions for is­sue or the art­icles of as­so­ci­ation provide there­for or the bail­ors have con­sen­ted thereto.806

2 The ob­lig­or shall keep a book on the un­cer­ti­fic­ated se­cur­it­ies that he has is­sued in which de­tails of the num­ber and de­nom­in­a­tion of the un­cer­ti­fic­ated se­cur­it­ies is­sued and of the cred­it­ors are re­cor­ded. The book is not open for pub­lic in­spec­tion.

3 The un­cer­ti­fic­ated se­cur­it­ies are cre­ated on entry in the book and con­tin­ue to ex­ist only in ac­cord­ance with such entry.

4 The trans­fer of un­cer­ti­fic­ated se­cur­it­ies re­quires a writ­ten de­clar­a­tion of as­sign­ment. Their pledging is gov­erned by the pro­vi­sions on the pledging of claims.

805 In­ser­ted by An­nex No 3 of the Un­cer­ti­fic­ated Se­cur­it­ies Act of 3 Oct. 2008, in force since 1 Jan. 2010 (AS 2009 3577; BBl 2006 9315).

806 Amended by No I 1 of the FA of 25 Sept. 2020 on the Ad­apt­a­tion of Fed­er­al Law to De­vel­op­ments in Dis­trib­uted Ledger Tech­no­logy, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).

 
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