Art. 697m522
III. Failure to comply with obligations to give notice 1 For as long as the shareholder fails to comply with their obligations to give notice, the membership rights conferred by the shares in respect of which notice of acquisition must be given shall be suspended. 2 The shareholder may only exercise the property rights conferred by the shares if they have complied with their obligations to give notice. 3 If the shareholder fails to comply with their obligations to give notice within one month of acquiring the shares, the property rights lapse. If they give notice at a later date, they may exercise the property rights arising from that date. 4 The board of directors shall ensure that no shareholders exercise their rights while in breach of their obligations to give notice. 522 Inserted by No I 2 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revised recommendations of the Financial Action Task Force, in force since 1 July 2015 (AS 20151389; BBl 2014605). |