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- Art. 5a FC
- Art. 6 FC
- Art. 10 FC
- Art. 16 FC
- Art. 17 FC
- Art. 20 FC
- Art. 22 FC
- Art. 29a FC
- Art. 30 FC
- Art. 32 FC
- Art. 42 FC
- Art. 43 FC
- Art. 43a FC
- Art. 55 FC
- Art. 56 FC
- Art. 60 FC
- Art. 68 FC
- Art. 75b FC
- Art. 77 FC
- Art. 96 para. 2 lit. a FC
- Art. 110 FC
- Art. 117a FC
- Art. 118 FC
- Art. 123b FC
- Art. 136 FC
- Art. 166 FC
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- Art. 11 CO
- Art. 12 CO
- Art. 50 CO
- Art. 51 CO
- Art. 84 CO
- Art. 143 CO
- Art. 144 CO
- Art. 145 CO
- Art. 146 CO
- Art. 147 CO
- Art. 148 CO
- Art. 149 CO
- Art. 150 CO
- Art. 701 CO
- Art. 715 CO
- Art. 715a CO
- Art. 734f CO
- Art. 785 CO
- Art. 786 CO
- Art. 787 CO
- Art. 788 CO
- Transitional provisions to the revision of the Stock Corporation Act of June 19, 2020
- Art. 808c CO
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- Art. 2 PRA
- Art. 3 PRA
- Art. 4 PRA
- Art. 6 PRA
- Art. 10 PRA
- Art. 10a PRA
- Art. 11 PRA
- Art. 12 PRA
- Art. 13 PRA
- Art. 14 PRA
- Art. 15 PRA
- Art. 16 PRA
- Art. 17 PRA
- Art. 19 PRA
- Art. 20 PRA
- Art. 21 PRA
- Art. 22 PRA
- Art. 23 PRA
- Art. 24 PRA
- Art. 25 PRA
- Art. 26 PRA
- Art. 27 PRA
- Art. 29 PRA
- Art. 30 PRA
- Art. 31 PRA
- Art. 32 PRA
- Art. 32a PRA
- Art. 33 PRA
- Art. 34 PRA
- Art. 35 PRA
- Art. 36 PRA
- Art. 37 PRA
- Art. 38 PRA
- Art. 39 PRA
- Art. 40 PRA
- Art. 41 PRA
- Art. 42 PRA
- Art. 43 PRA
- Art. 44 PRA
- Art. 45 PRA
- Art. 46 PRA
- Art. 47 PRA
- Art. 48 PRA
- Art. 49 PRA
- Art. 50 PRA
- Art. 51 PRA
- Art. 52 PRA
- Art. 53 PRA
- Art. 54 PRA
- Art. 55 PRA
- Art. 56 PRA
- Art. 57 PRA
- Art. 58 PRA
- Art. 59a PRA
- Art. 59b PRA
- Art. 59c PRA
- Art. 62 PRA
- Art. 63 PRA
- Art. 67 PRA
- Art. 67a PRA
- Art. 67b PRA
- Art. 75 PRA
- Art. 75a PRA
- Art. 76 PRA
- Art. 76a PRA
- Art. 90 PRA
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- Vorb. zu Art. 1 FADP
- Art. 1 FADP
- Art. 2 FADP
- Art. 3 FADP
- Art. 5 lit. f und g FADP
- Art. 6 Abs. 6 and 7 FADP
- Art. 7 FADP
- Art. 10 FADP
- Art. 11 FADP
- Art. 12 FADP
- Art. 14 FADP
- Art. 15 FADP
- Art. 19 FADP
- Art. 20 FADP
- Art. 22 FADP
- Art. 23 FADP
- Art. 25 FADP
- Art. 26 FADP
- Art. 27 FADP
- Art. 31 para. 2 lit. e FADP
- Art. 33 FADP
- Art. 34 FADP
- Art. 35 FADP
- Art. 38 FADP
- Art. 39 FADP
- Art. 40 FADP
- Art. 41 FADP
- Art. 42 FADP
- Art. 43 FADP
- Art. 44 FADP
- Art. 44a FADP
- Art. 45 FADP
- Art. 46 FADP
- Art. 47 FADP
- Art. 47a FADP
- Art. 48 FADP
- Art. 49 FADP
- Art. 50 FADP
- Art. 51 FADP
- Art. 54 FADP
- Art. 57 FADP
- Art. 58 FADP
- Art. 60 FADP
- Art. 61 FADP
- Art. 62 FADP
- Art. 63 FADP
- Art. 64 FADP
- Art. 65 FADP
- Art. 66 FADP
- Art. 67 FADP
- Art. 69 FADP
- Art. 72 FADP
- Art. 72a FADP
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- Art. 2 CCC (Convention on Cybercrime)
- Art. 3 CCC (Convention on Cybercrime)
- Art. 4 CCC (Convention on Cybercrime)
- Art. 5 CCC (Convention on Cybercrime)
- Art. 6 CCC (Convention on Cybercrime)
- Art. 7 CCC (Convention on Cybercrime)
- Art. 8 CCC (Convention on Cybercrime)
- Art. 9 CCC (Convention on Cybercrime)
- Art. 11 CCC (Convention on Cybercrime)
- Art. 12 CCC (Convention on Cybercrime)
- Art. 25 CCC (Convention on Cybercrime)
- Art. 29 CCC (Convention on Cybercrime)
- Art. 32 CCC (Convention on Cybercrime)
- Art. 33 CCC (Convention on Cybercrime)
- Art. 34 CCC (Convention on Cybercrime)
FEDERAL CONSTITUTION
CODE OF OBLIGATIONS
FEDERAL LAW ON PRIVATE INTERNATIONAL LAW
LUGANO CONVENTION
CODE OF CRIMINAL PROCEDURE
CIVIL PROCEDURE CODE
FEDERAL ACT ON POLITICAL RIGHTS
CIVIL CODE
FEDERAL ACT ON CARTELS AND OTHER RESTRAINTS OF COMPETITION
FEDERAL ACT ON INTERNATIONAL MUTUAL ASSISTANCE IN CRIMINAL MATTERS
DEBT ENFORCEMENT AND BANKRUPTCY ACT
FEDERAL ACT ON DATA PROTECTION
SWISS CRIMINAL CODE
CYBERCRIME CONVENTION
- I. Introduction
- II. The request to convene a meeting of the Board of Directors
- III. Convening the meeting of the Board of Directors
- IV. Judicial enforcement
- Bibliography
I. Introduction
A. General
1The Swiss Code of Obligations does not provide for any regulation as to when and where meetings of the Board of Directors must be convened and whether deadlines must be observed in this context. In principle, the full Board of Directors would be responsible for the decision to meet on a certain day, at a certain time and at a certain place, as the law does not contain any other provision. According to doctrine and practice, however, the Chairman of the Board of Directors is granted independent discretion to decide whether to convene a meeting.
2Art. 715 CO enshrines the individual right of the member of the Board of Directors to convene a meeting of the Board of Directors without delay. This individual right is directly related to the individual duty of care and loyalty pursuant to Art. 717 CO and the responsibility for proper management pursuant to Art. 754 CO. However, with the rudimentary regulation in Art. 715 CO, the legislator has left the concrete form of this individual right to practice and the judge. Art. 715 CO, on the other hand, does not grant the member of the Board of Directors the right to conduct a circular resolution procedure.
B. Revisions to company law
3The provision of Art. 715 CO was amended with the 1991 reform of company law to the extent that the written form requirement was waived. It was also clarified that a meeting must be convened immediately upon request. In addition, the Council of States added the obligation to state reasons.
4The provision of Art. 715 CO was not under discussion as part of the 2020 reform of company law and therefore remained unchanged.
C. Statutory regulation and modifications
5Each individual member of the Board of Directors has the right to request that a meeting of the Board of Directors be convened. This individual right cannot be withdrawn or restricted. The Chairman of the Board of Directors may only reject a request if the request is an abuse of rights or is made with clearly objectionable intent.
6Art. 715 CO does not grant an individual right to a direct convocation of the Board of Directors. Such a right only exists if it is provided for in the articles of association or the organizational regulations of the company limited by shares.
7The right to convene a meeting of the Board of Directors is of a mandatory nature. It can therefore neither be restricted nor completely excluded in the articles of association or the organizational regulations of a public limited company.
8 Provisions deviating from Art. 715 CO must be set out in the organizational regulations, as the right to convene a meeting is an inalienable individual right of the Board of Directors, which falls within the core competence of the Board of Directors pursuant to Art. 716a para. 1 no. 2 CO (determination of the organization). This inalienable and non-transferable competence of the Board of Directors is beyond the control of the General Meeting.
9Statutory provisions that withdraw or restrict the authority to convene a meeting of the Board of Directors in accordance with Art. 715 CO are null and void within the meaning of Art. 706b CO. Any regulatory provisions are null and void within the meaning of Art. 714 CO in conjunction with Art. 706b CO.
10 By contrast, the modalities for exercising the right to convene a meeting of the Board of Directors are dispositive in nature. These include, in particular, the modalities listed below:
The form in which the request must be submitted;
The deadline to be met with regard to convening the meeting;
The person to whom the request is to be addressed.
For example, the request may be prescribed in writing or the deadline may be specified in the context of the term "without undue delay", for example within three days of receipt of the request.
11 Furthermore, provisions at the level of the organizational regulations that extend the right to convene a meeting are permissible. Examples of such provisions are listed below:
a provision that grants each individual member of the Board of Directors the right to directly convene a meeting of the Board of Directors;
a provision that enables the member of the Board of Directors to address the request to convene a meeting of the Board of Directors directly to the member responsible for convening the meeting in accordance with the company's rules of procedure;
an extension of the authority to convene meetings to other persons (e.g. to the secretary of the Board of Directors);
a provision stating that a request to convene a meeting of the Board of Directors is also permissible without stating reasons.
II. The request to convene a meeting of the Board of Directors
A. Formal requirements
12 The request to convene a meeting of the Board of Directors is not subject to any special formal requirements. The requirement of written form was waived with the 1991 reform of company law.
13 The request to convene a meeting of the Board of Directors may be submitted verbally, by telephone or by electronic means of communication. Written submissions are of course also possible.
14 The organizational regulations may stipulate that the request must be submitted in writing. Such a provision is recommended in any case, on the one hand for reasons of proof, but also with regard to the traceability of the application by the other members of the Board of Directors.
B. Duty to state reasons
15 The request is subject to a general obligation to state reasons. This follows from the wording of the law and applies regardless of the form in which the request is made or submitted.
16 The duty to state reasons is not subject to stringent requirements. Neither the formulation of an agenda item or several agenda items nor the submission of motions with regard to an agenda item or several agenda items is required.
17 The request to convene a meeting must generally describe the topic to be discussed so that the Chairman of the Board of Directors can convene the meeting and the other members of the Board of Directors can prepare for the meeting. However, it must not be inferred from the obligation to state reasons that the right to request the convening of a meeting of the Board of Directors only exists in justified cases.
C. Addressee
18 It is clear from the wording of the law that the request must be submitted to the Chairman of the Board of Directors. This requirement remains in place even if the organizational regulations assign the responsibility for convening a meeting of the Board of Directors to another person.
III. Convening the meeting of the Board of Directors
A. Authority to convene a meeting
19 In principle, the convening of a meeting of the Board of Directors is the responsibility of the Chairman of the Board of Directors. If this authority is assigned to another person (e.g. the Delegate of the Board of Directors), the Chairman must ensure that this person performs his duties, if necessary. If the Articles of Association or the Organizational Regulations indicate that another member is responsible for convening a meeting, this member must consult with the Chairman.
B. Form of convocation and time of the meeting
20 Subject to statutory or regulatory provisions, the meeting of the Board of Directors may be convened in any form, whereby at least the time and place must be stated. For reasons of proof, however, a written invitation is also recommended in this context, as resolutions passed at meetings to which not all members of the Board of Directors have been invited are null and void in accordance with Art. 714 CO. The meeting of the Board of Directors must be scheduled in such a way that the members of the Board of Directors with the necessary good will are able to attend.
IV. Judicial enforcement
A. Admissibility of an action for performance
21 Art. 715 CO does not stipulate that the judge can order the convening of a meeting of the Board of Directors upon request in the event of a refusal. This is in contrast to the shareholder's right to convene a general meeting in accordance with Art. 699 CO. Paragraph 5 of this article expressly states that the shareholder may appeal to the judge. As far as can be seen, however, the doctrine almost unanimously assumes that the petitioner is also entitled to a corresponding action for performance based on Art. 715 CO, as the Federal Supreme Court has now ruled in BGE 144 III 100 E. 5.2.2 in connection with the right to information of the members of the Board of Directors. Based on such an action, the judge can order the convening of a meeting of the Board of Directors or convene it himself.
B. Active and passive legitimation
22 A member of the Board of Directors whose request to convene a meeting of the Board of Directors has been rejected or whose request has not been acted upon has the right to bring an action for performance.
23 The company has no right of action.
24 The question of standing as a defendant is less clear. In principle, the company or the chairman of the board of directors can be considered as defendants. In contrast to Art. 699 CO, Art. 715 CO does not entrust the Board of Directors as a whole, but rather the Chairman of the Board of Directors directly with the task of convening a meeting of the Board of Directors. Therefore, there is no need to ask whether all members of the Board of Directors have the right to act as a passive shareholder.
25 With regard to Art. 715 CO, it should be noted that the company is ultimately responsible for the duty to convene meetings of the Board of Directors. It is only exercised by its executive bodies. Based on this, the passive legitimation of the company must be affirmed.
26 There is controversy among scholars as to whether the Chairman of the Board of Directors also has passive legitimacy. In our opinion, there is a strong argument in favor of a corresponding passive legitimation, which arises directly from the legal text. For example, Art. 715 CO expressly assigns the duty to a specific board member, namely the Chairman of the Board of Directors. However, the relevant question has not been clarified by the highest court.
27 The value in dispute of the action for performance to convene a meeting of the board of directors is not easy to determine and can be determined or estimated on the basis of the decisions that should be taken at the meeting or the steps that they could entail
Bibliography
Blanc Mathieu, Renforcement du droit à l’information de l’administrateur, in: Bulletin CEDIDAC Nr. 74, 2018.
Böckli Peter, Schweizer Aktienrecht, 5. Aufl., Zürich, 2022.
Bühler Christoph B., Kommentierung zu Art. 715 OR, in: Handschin Lukas (Hrsg.), Zürcher Kommentar, Die Aktiengesellschaft, Generalversammlung und Verwaltungsrat. Mängel in der Organisation, Art. 698-726 und 731b OR, 3. Aufl., Zürich 2018.
Erb Catrina, Die richterliche Einberufung von Verwaltungsratssitzungen, in: Gaudenz G. Zindel/Patrik R. Peyer/Betrand Schott, Wirtschaftsrecht in Bewegung, Zürich/St. Gallen 2008.
Facincani Nicolas/Gayler Lukas/Wissler Seline, Kommentierung zu Art. 715a OR, in: Lukas Müller (Hrsg.), Onlinekommentar zum Obligationenrecht.
Facincani Nicolas/Sutter Reto, Verwaltungsratssitzung, in: Trex 2023, S. 264 ff.
Forstmoser Peter, Organisation und Organisationsreglement der Aktiengesellschaft, Zürich 2011.
Forstmoser Peter/Küchler Marcel, Schweizerisches Aktienrecht 2020. Mit neuem Recht der GmbH und der Genossenschaft und den weiteren Gesetzesänderungen, Bern 2022.
Forstmoser Peter/Meyer-Hayoz Arthur/Nobel Peter, Schweizerisches Aktienrecht, Bern 1996.
Krneta Georg, Praxiskommentar Verwaltungsrat. Art. 707-726 OR und Spezialgesetze. Ein Handbuch für Verwaltungsräte, 2. Aufl., Bern 2005.
Kunz Peter V., Der Minderheitenschutz im schweizerischen Aktienrecht, Bern 2001.
Müller Roland, VR-Sitzung: Vorbereitung, Einberufung, Durchführung, Beschlussfassung, Protokollierung, SJZ 107 (2011), S. 45 ff.
Müller Roland/Lipp Lorenz/Plüss Adrian, Der Verwaltungsrat. Ein Handbuch für Theorie und Praxis, 5. Aufl., Zürich 2021.
Peter Henry/Cavadini Francesca, in: Amstutz Marc/Tercier Pierre/Trigo Trindade Rita (Hrsg.), Commentaire Romand, Code des Obligations II, Code des obligations art. 530-1186, Loi sur les bourses art. 22-33, Avec une introduction à la Loi sur les fusion, Basel 2008.
Plüss Adrian, Der Verwaltungsrat Art. 707-722, 726 OR, in: Nobel Peter/Müller Christoph, Das Aktienrecht - Kommentar der ersten Stunde, Bern 2023.
Plüss Adrian/Facincani Nicolas, in: Roberto Vito/Trüeb Hans Rudolf (Hrsg.), CHK - Handkommentar zum Schweizer Privatrecht, Personengesellschaften und Aktiengesellschaft, Art. 530-771 OR, 4. Aufl., Zürich 2023.
Oulevey Xavier/Levrat Jérôme, La société anonyme, Zürich 2023.
Stach Patrick, Kommentierung zu Art. 715 OR, in: Kren Kostkiewicz Jolanta/Wolf Stephan/Amstutz Marc/Fankhauser Roland (Hrsg.), Orell Füssli Kommentar, 4. Aufl., 2023.
Vischer Markus/Endrass Yves, Die Einberufung einer Sitzung des Verwaltungsrates, AJP 18 (2009), S. 405 ff.
Von der Crone Hans Caspar, Aktienrecht, 2. Aufl., Bern 2020.
Wernli Martin, Kommentierung zu Art. 715 OR, in: Honsell Heinrich/Vogt Nedim Peter/Watter Rolf (Hrsg.), Basler Kommentar, Obligationenrecht II, 6. Aufl., Basel 2023.