II. Global certificate
1 The obligor may issue global certificates or to replace two or more fungible negotiable securities entrusted to a single bailee with a global certificate, provided the conditions for issue or the articles of association of the company provide therefor or the bailors have consented thereto.
2 The global certificate is a negotiable security in the same form as the indivaidual rights that it represents. It is jointly owned by the participant bailors, in proportion to their shares. The status and rights of the joint owners in relation to the global certificate are governed by Article 973a paragraph 2 mutatis mutandis.
1 Inserted 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).
B. Obligations dérivant du papier-valeur
1 Celui dont la dette est incorporée dans un papier-valeur n’est tenu de payer que contre la remise du titre.
2 Sauf dol ou négligence grave de sa part le débiteur est libéré par un paiement à l’échéance entre les mains de la personne à qui le titre confère la qualité de créancier.
