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

¹ The be­ne­fi­ciary of a ledger-based se­cur­ity may de­mand that the court can­cel the se­cur­ity, provided that he or she fur­nishes cred­ible evid­ence of his or her ori­gin­al power of dis­pos­al and of the loss there­of. Fol­low­ing can­cel­la­tion of the in­stru­ment, the be­ne­fi­ciary may also ex­er­cise his or her right out­side the ledger or, at his or her own ex­pense, de­mand that the ob­lig­or al­loc­ate a new ledger-based se­cur­ity. In ad­di­tion, Art­icles 982-986 ap­ply mu­tatis mutandis to the pro­ced­ure for and ef­fect of can­cel­la­tion.

² The parties may make pro­vi­sion for a sim­pli­fied form of can­cel­la­tion con­sist­ing in a re­duc­tion of the num­ber of pub­lic calls for present­a­tion or a cur­tail­ment of the time lim­its.