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

¹ Bills and cer­ti­fic­ates is­sued in re­spect of stored goods or freight that do not sat­is­fy the form­al re­quire­ments of doc­u­ments of title to goods are not re­cog­nised as ne­go­ti­able se­cur­it­ies, but are deemed to be merely re­ceipts or oth­er doc­u­ments in proof.

² Bills and cer­ti­fic­ates is­sued by ware­house keep­ers without the leg­ally re­quired ap­prov­al from the com­pet­ent au­thor­ity are re­cog­nised as ne­go­ti­able se­cur­it­ies provided they sat­is­fy the stat­utory form­al re­quire­ments. The is­suer is li­able to an ad­min­is­trat­ive fine of up to 1,000 francs to be im­posed by the com­pet­ent can­ton­al au­thor­ity.