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

¹ The per­sons with au­thor­ity to rep­res­ent the co­oper­at­ive may carry out in its name any trans­ac­tions con­du­cive to the achieve­ment of the co­oper­at­ive’s ob­jects.

² Any re­stric­tion of such au­thor­ity shall have no ef­fect in re­la­tion to bona fide third parties, sub­ject to any pro­vi­sions entered in the com­mer­cial re­gister that gov­ern ex­clus­ive rep­res­ent­a­tion of the prin­cip­al place of busi­ness or a branch of­fice or joint man­age­ment of the co­oper­at­ive.

³ The co­oper­at­ive is li­able for any loss or dam­age res­ult­ing from un­au­thor­ised acts car­ried out in the ex­er­cise of his func­tion by a per­son au­thor­ised to man­age the co­oper­at­ive’s busi­ness or to rep­res­ent it.