Federal Act on the Amendment of the Swiss Civil Code (OR)

Art. 653pOR from 2023

Art. 653p 2. Capital reduction in the event of negative net worth ⁽¹⁾

¹ If the share capital is reduced in order to partly or fully correct a situation of negative net worth caused by losses and if a licensed audit expert confirms to the general meeting that the amount of the capital reduction does not exceed the amount of the negative net worth, the provisions relating to an ordinary capital reduction on securing claims, the interim account, the audit confirmation and the declarations of the board of directors do not apply.

² The resolution of the general meeting shall contain the information specified in Article 653n. It shall make reference to the result of the audit report and amend the articles of association.