OR Art. 973f -

Einleitung zur Rechtsnorm OR:



The Swiss Code of Obligations is a central code of Swiss civil law that regulates the legal relationships between private individuals. It includes five books that cover various aspects of contract law, law of obligations and property law, including the formation, content and termination of contracts, as well as liability for breach of contract and tort. The Code of Obligations is an important code of law for business and everyday life in Switzerland, as it forms the basis for many legal relationships and contracts and has been in force since 1912, whereby it is regularly adapted to social and economic developments.

Art. 973f OR from 2025

Art. 973f Federal Act on the Amendment of the Swiss Civil Code (OR) drucken

Art. 973f Transfer (1)

1 The transfer of the ledger-based security is subject to the provisions of the registration agreement.

2 If the creditor of a ledger-based security is declared bankrupt, if his or her property is distrained or if a debt restructuring moratorium is authorised, the creditor'"s decisions regarding ledger-based securities are legally binding and effective against third parties, provided that they:

  • 1. were made beforehand;
  • 2. have become irrevocable under the rules of the securities ledger or another trading facility; and
  • 3. were actually recorded in the securities ledger within 24 hours.

    • 3 When a bona fide acquirer of a certificated security and a bona fide acquirer of the ledger-based security have a conflicting claim to the same right, the former takes precedence over the latter.

    (1) Inserted by No I 1 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
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