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

Art. 689e494

d. Del­eg­a­tion of vot­ing rights to cus­todi­an banks in com­pan­ies whose shares are not lis­ted on a stock ex­change

 

1 In the case of a company whose shares are not listed on a stock exchange, any person who wishes to exercise the right to vote attached toshares de­pos­ited with them shall ask the de­pos­it­ors for vot­ing in­struc­tions pri­or to every gen­er­al meet­ing.

2 Where the de­pos­it­ors’ in­struc­tions can­not be ob­tained in good time, the cus­todi­an ex­er­cises their right to vote in ac­cord­ance with their gen­er­al in­struc­tions; if they do not have any in­struc­tions, they shall ab­stain.

3 In­sti­tu­tions sub­ject to the Fed­er­al Act of 8 Novem­ber 1934495 on Banks and Sav­ings Banks and fin­an­cial in­sti­tu­tions in ac­cord­ance with the Fin­an­cial In­sti­tu­tions Act of 15 June 2018496 are deemed to be cus­todi­ans act­ing as rep­res­ent­at­ives.

494 In­ser­ted by No I of the FA of 4 Oct. 1991 (AS 1992 733; BBl 1983 II 745). Amended by No I of the FA of 19 June 2020 (Com­pany Law), in force since 1 Jan. 2023 (AS 2020 4005; 2022 109; BBl 2017 399).

495 SR 952.0

496 SR 954.1

 

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