C. Shares
I. Types
1 The shares may be either registered or bearer shares. Shares issued as uncertificated securities in accordance with the Uncertificated Securities Act of 3 October 20081 are either registered or bearer shares.2
1bis Bearer shares are only permitted if the company has equity securities listed on a stock exchange or the bearer shares are organised as intermediated securities in accordance with the Intermediated Securities Act of 3 October 2008 and deposited with a custodian in Switzerland designated by the company or entered in the main register.3
2 Shares of both types may exist at the same time in a ratio fixed by the articles of association.
2bis A company with bearer shares must arrange for an entry to be made in the Commercial Register as to whether it has equity securities listed on a stock exchange or its bearer shares are organised as intermediated securities. 4
2ter If all the equity securities are delisted, the company must within six months either convert the existing bearer shares into registered shares or organise them as intermediated securities.5
3 The articles of association may provide that registered shares should or may subsequently be converted into bearer shares or vice versa.
4 The nominal value of a share must be at least 1 centime.6
5 The share certificate must be signed by at least one member of the board of directors7. The company may decide that even shares issued in large numbers must bear a handwritten signature.
1 SR 957.1
2 Amended by Annex No 3 of the Uncertificated Securities Act of 3 Oct. 2008, in force since 1 Jan. 2010 (AS 2009 3577; BBl 2006 9315).
3 Inserted by No I 1 of the FA of 21 June 2019 on the Implementation of the Recommendations of the Global Forum on Transparency and the Exchange of Information for Tax Purposes, in force since 1 Nov. 2019 (AS 2019 3161; BBl 2019 279).
4 Inserted by No I 1 of the FA of 21 June 2019 on the Implementation of the Recommendations of the Global Forum on Transparency and the Exchange of Information for Tax Purposes, in force since 1 Nov. 2019 (AS 2019 3161; BBl 2019 279).
5 Inserted by No I 1 of the FA of 21 June 2019 on the Implementation of the Recommendations of the Global Forum on Transparency and the Exchange of Information for Tax Purposes, in force since 1 Nov. 2019 (AS 2019 3161; BBl 2019 279).
6 Amended by No I of the FA of 15 Dec. 2000, in force since 1 May 2001 (AS 2001 1047; BBl 2000 4337 No 2.2.1 5501).
7 Term in accordance with No II 3 of the FA of 4 Oct. 1991, in force since 1 July 1992 (AS 1992 733; BBl 1983 II 745). This amendment has been taken into account throughout the Code.
1 Les dispositions régissant la société en nom collectif sont applicables à la dissolution et à la liquidation de la société en commandite, ainsi qu’à la prescription des actions contre les associés.
2 Si un commanditaire est déclaré en faillite ou si sa part dans la liquidation est saisie, les dispositions concernant les associés en nom collectif s’appliquent par analogie. Toutefois, la société n’est pas dissoute par la mort ou la mise sous curatelle de portée générale d’un commanditaire.1
1 Nouvelle teneur de la phrase selon l’annexe ch. 10 de la LF du 19 déc. 2008 (Protection de l’adulte, droit des personnes et droit de la filiation), en vigueur depuis le 1er janv. 2013 (RO 2011 725; FF 2006 6635).
