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). |