1 In the case of listed registered shares, the company may refuse to accept the acquirer as a shareholder only where the articles of association envisage a percentage limit on the registered shares for which an acquirer must be recognised as shareholder and such limit is exceeded.
2 The company may also refuse to accept an acquirer if at the company’s request the acquirer fails to declare expressly that they have acquired the shares in their own name and for their own account, that there is no agreement to take back or return the shares concerned and that they bear the economic risk associated with the shares. The company may not refuse acceptance on the grounds that the request was made by the acquirer’s bank.467
3 Where listed468 registered shares were acquired by inheritance, division of estate or matrimonial property law, entry of the acquirer may not be refused.
466 Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 (AS 1992 733; BBl 1983 II 745).
467 Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 (AS 2020 4005; 2022 109; BBl 2017 399).
468 Revised by the Federal Assembly Drafting Committee (Art. 33 ParlPA; AS 1974 1051).
1 L’alienante conserva la proprietà delle azioni e tutti i diritti connessi sino a che non sia data l’approvazione necessaria per il loro trasferimento.
2 In caso d’acquisto delle azioni per successione, divisione ereditaria, in virtù del regime matrimoniale dei beni o in un procedimento d’esecuzione forzata, la proprietà del titolo e i diritti patrimoniali passano all’acquirente immediatamente, mentre i diritti sociali solo al momento dell’approvazione da parte della società.
3 L’approvazione si considera accordata se la società non respinge la relativa domanda entro tre mesi dalla ricezione o se la respinge a torto.
467 Introdotto dal n. I della LF del 4 ott. 1991, in vigore dal 1° lug. 1992 (RU 1992 733; FF 1983 II 713).
This document is not an official publication. Only the publication of the Federal Chancellery is legally binding.
Il presente documento non è una pubblicazione ufficiale. Fa unicamente fede la pubblicazione della Cancelleria federale. Ordinanza sulle pubblicazioni ufficiali, OPubl.