-
- 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. Time of the transfer of rights
- II. Time limit for granting consent
- Sample documents
- Materials
- Bibliography
I. Time of the transfer of rights
1 If the requirements for the acquisition of the ordinary shares are fulfilled (Art. 785 CO), the rights and obligations do not pass to the acquiring person with its transfer, but only after the shareholders' meeting has given its consent - provided that the requirement has not been repealed by the articles (Art. 786 para. 2 item 1 CO). Consequently, the transfer is subject to a suspensive condition (Art. 151 et seq. CO) and remains in abeyance until the shareholders' meeting has given its consent. Accordingly, the assignment of ordinary shares behaves like the transfer of registered shares not listed on the stock exchange (art. 685c CO).
2 Only upon approval is the acquiring person granted the full membership rights (voting rights, veto rights, etc.) and obligations as a partner. Until then, the alienating person alone remains entitled to exercise the membership rights; however, it is possible for the acquiring person to vote at the shareholders' meeting by means of a proxy of the alienating person.
3 If the assignment is approved, the legal effects do not take effect retroactively to the moment of acquisition, but ex nunc with the passing of the resolution. Also, it is not the entry in the commercial register that is constitutive, but the time of the resolution. If the requirement of consent was excluded by the articles of association (Art. 786 para. 2 item 1 CO), the rights and obligations are transferred to the acquiring person with the transfer.
4 If consent to the transfer is refused, the transfer is ineffective and lapses ex tunc. If the ordinary share certificates have already been handed over to the acquiring person, the contract of sale or donation must be reversed (Art. 109 CO).
II. Time limit for granting consent
5 The general meeting of shareholders has a period of six months to approve the transfer of the ordinary shares (Art. 787 para. 2 CO). Even though the six-month period is explicitly provided for consent, it is practically a time limit within which the partners' meeting must act if it does not wish to admit the acquiring person as a partner. If the general meeting of shareholders does not refuse within this period, consent is deemed to have been given by way of fiction.
6 During these six months the shareholders may make inquiries regarding the acquiring person. In doing so, their creditworthiness may be checked if, within the framework of a statutory regulation pursuant to Art. 786 Ab. 2 No. 5 CO, consent to the assignment may be refused if the fulfilment of statutory obligations to make additional or ancillary contributions is doubtful and a security demanded by the company is not provided.
A. Calculation of time limits
7 The time limit begins to run on the day after the request for approval of the assignment of the ordinary shares has been received by the company or has come into its power. The six-month period may be shortened by the articles of association, but not extended, in order to protect the interests of the acquiring persons.
B. Effect on expiry of the time limit
8 If the company fails to reject the request for approval of the assignment or to take a decision in general within the time limit, approval is irrefutably presumed. A belated rejection by the general meeting of shareholders shall have no effect.
9 If the request has been rejected without justification - e.g. if the acquiring person fulfils the requirements of the statutory transfer restriction according to Art. 786 para. 2 item 2 CO or the credit rating restriction according to Art. 786 para. 2 item 5 CO and is nevertheless denied consent - and if the decision is challenged in court, the approval takes effect at the time the declaratory judgement becomes final.
C. Acknowledgement of the decision
10 No reasons need to be given for the rejection decision (cf. Art. 786 para. 1 CO) - unless a duty to state reasons has been included in the articles of association. However, the applicant must be informed about the decision of the shareholders' meeting. If he or she is not present at the shareholders' meeting, e.g. as a representative of the person selling, and the company rejects the transfer of the ordinary shares, the resolution must reach the applicant before the expiry of the six-month period.
11 The form in which the notification must be made is not regulated in the law. The articles of association of the company must regulate this form (art. 776 no. 4 CO). If the notice is sent in writing by post or by e-mail, the date of receipt applies and it is not necessary that the applicant has actually taken notice of the company's refusal. Thus, caution is advised if the shareholders' meeting is scheduled for the last day of the six-month period and the rejection decision is still to be communicated.
Sample documents
Cf. the original German version of the commentary.
Materials
Botschaft zur Revision des Obligationenrechts (GmbH-Recht sowie Anpassungen im Aktien-, Genossenschafts-, Handelsregister- und Firmenrecht) vom 19. Dezember 2001, BBl 2002 S. 3148 ff., abrufbar unter https://www.fedlex.admin.ch/eli/fga/2002/443/de besucht am 24. Juni 2022 (zit. Botschaft GmbH 2002).
Bibliography
Chappuis Fernand / Jaccard Michel, in: Tercier Pierre / Amstutz Marc / Trigo Trindade Rita (Hrsg.), Commentaire Romand, Code des Obligations II, 2. Aufl., Basel 2017 (zit. CR).
du Pasquier Shelby / Wolf Matthias / Oertle Matthias, in: Honsell Heinrich / Vogt Nedim Peter / Watter Rolf (Hrsg), Basler Kommentar, Obligationenrecht II, 5. Aufl., Basel 2016 (zit. BSK).
Handschin Lukas / Truniger Christof, Die GmbH, Zürich 2019.
Keller Alwin / Jegher Gion / Vasella David, in: Honsell Heinrich (Hrsg.), Kurzkommentar Obligationenrecht, Art. 1-1186 OR, Basel 214 (zit. KuKo).
Küng Manfred / Camp Raphael, Orell Füssli Kommentar, GmbH-Recht – Das revidierte Recht zur Gesellschaft mit beschränkter Haftung, Zürich 2006 (zit. OFK).
Scheidegger Markus, in: Nussbaum Martin F. / Sanwald Reto / Scheidegger Markus (Hrsg.), Kurzkommentar zum neuen GmbH-Recht, Bern 2007 (zit. Kurzkommentar GmbH).
Siffert Rino, in: Baker & McKenzie (Hrsg.), Stämpflis Handkommentar, Handelsregisterverordnung, Zürich 2013 (zit. SHK).
Siffert Rino / Fischer Marc Pascal / Petrin Martin, in: Baker & McKenzie (Hrsg.), Stämpflis Handkommentar, GmbH-Recht, Zürich 2008 (zit. SHK).
Trüeb Hans Rudolf, in: Roberto Vito / Trüeb Hans Rudolf (Hrsg.), Handkommentar zum Schweizer Privatrecht, 3. Aufl., Zürich 2016 (zit. CHK).
Zellweger-Gutknecht Corinne, in: Widmer Lüchinger Corinne / Oser David (Hrsg.), Basler Kommentar, Obligationenrecht I, 7. Aufl., 2020 Basel (zit. BSK).