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

¹ The ex­tern­al aud­it­or shall be ap­poin­ted for a peri­od of one up to three fin­an­cial years. Its term of of­fice ends on the ad­op­tion of the an­nu­al ac­counts for the fi­nal year. Re-ap­point­ment is pos­sible.

² In the case of an or­din­ary audit, the per­son who man­ages the audit may ex­er­cise his man­date for sev­en years at the most. He may only ac­cept the same man­date again after an in­ter­rup­tion of three years.

³ If an ex­tern­al aud­it­or resigns, it must no­ti­fy the board of dir­ect­ors of the reas­ons; the board of dir­ect­ors in­forms the next gen­er­al meet­ing of these reas­ons.

⁴ The gen­er­al meet­ing may only re­move the ex­tern­al aud­it­or for good cause.⁶²⁰