brunnolou/swiss-code-of-obligations huggingface dataset:
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
I. Ordinary capital increase
5. Increase from equity capital 362

Art. 652d363

1 The share capital may also be increased through conversion of freely disposable equity capital.

2 The equity capital used to meet the amount of the increase is shown:

1.

 in the annual accounts as approved by the general meeting and audited by a licensed auditor; or

  
2.

 in an interim account audited by a licensed auditor, provided the balance sheet date at the time of the resolution of the general meeting is more than six months in the past.[364](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20155) 

3 The articles of association must indicate that the capital increase was made by converting freely disposable equity capital.[365](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20178) 

[363](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20121) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[364](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20155) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[365](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20178) Inserted by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
I. Ordinary capital increase
6. Capital increase report 366

Art. 652e367

The board of directors shall draw up a written report in which it gives account of:

 1.[368](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20249) 

 the nature and condition of contributions in kind and the appropriateness of their valuation;

2.

 the existence of debts and whether such debts may be set off;

3.

 the free disposability of the equity capital thus converted;

4.

 compliance with the resolution of the general meeting, in particular concerning restrictions on or cancellation of subscription rights and the allocation of subscription rights that have not been exercised or have been withdrawn;

5.

 the reasons for and appropriateness of special privileges accorded to specific shareholders or other persons.

[367](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20226) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[368](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20249) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
I. Ordinary capital increase
7. Audit confirmation369

Art. 652f370

1 A licensed auditor shall verify the capital increase report and confirm in writing that it is complete and accurate.[371](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20330) 

2 No such audit confirmation is required where the capital contribution for the new share capital is made in money, the share capital increase is not for the purpose of funding an acquisition in kind and subscription rights are not restricted or cancelled.

[370](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20310) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[371](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20330) Amended by No I 3 of the FA of 16 Dec. 2005 (Law on Limited Liability Companies and Amendments to the Law on Companies limited by Shares, Cooperatives, the Commercial Register and Business Names), in force since 1 Jan. 2008 ([AS **2007** 4791](eli/oc/2007/685/en);[BBl **2002** 3148](eli/fga/2002/443/en), [**2004** 3969](eli/fga/2004/680/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
I. Ordinary capital increase
8. Amendment of articles of association and statements from the board of directors

Art. 652g372

1 Once the capital increase report and, where required, the audit confirmation are available, the board of directors shall amend the articles of association and declare that:

1.

 all shares are validly subscribed for; 

2.

 the promised capital contributions correspond to the full issue price; 

3.

 the requirements prescribed by law, the articles of association and the resolution of the general meeting for making the contributions are met at the time of the declarations;

4.

 there are no contributions in kind, instances of offsetting or special privileges other than those mentioned in the supporting documents;

5.

 it has received the documents on which the capital increase is based.

2 The resolution on the amendment of the articles of association and declarations must be done as public deeds. The notary must name each of the documents supporting the capital increase individually and confirm that the documents were presented to them. The supporting documents must be attached to the public deed.

[372](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20360) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
I. Ordinary capital increase
9. Nullity of shares issued before registration

Art. 652h373

Shares issued prior to entering the capital increase in the commercial register are void; the obligations arising from the share subscription remain effective.

[373](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20427) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
1. General principle

Art. 653374

1 The general meeting resolve to create contingent capital by granting shareholders, creditors of bonds or similar debt instruments, employees, members of the board of directors of the company or another company in the group or third parties the right to subscribe for new shares (conversion and option rights).  

2 The share capital automatically increases whenever and to the extent that such conversion or option rights are exercised and the contribution obligations are discharged by payment or offsetting.

3 The provisions on increasing the share capital from contingent capital also apply _mutatis mutandis_ in the event that conversion and acquisition requirements are imposed. 

4 The foregoing paragraphs are subject to the regulations of the Banking Act of 8 November 1934[375](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20511) on reserve capital. 

[374](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20469) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[375](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20511) [SR **952.0**](eli/cc/51/117%5F121%5F129/en)
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
2. Restrictions

Art. 653a376

1 The nominal amount by which the share capital may be increased in this contingent manner must not exceed one-half of the share capital specified in the commercial register.[377](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20548) 

2 The capital contribution must be at least equal to the nominal value.

[376](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20528) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[377](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20548) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
3. Basis in articles of association

Art. 653b378

1 The articles of association must stipulate:

 1.[379](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20601) 

 the nominal value of the contingent capital;

2.

 the number, nominal value and type of shares;

3.

 the beneficiaries of conversion or option rights;

 4.[380](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20632) 

 any restriction or cancellation of the subscription right of existing shareholders, provided they are not allocated the option rights;

5.

 preferential rights attached to specific classes of shares;

6.

 the restrictions on the transferability of newly registered shares;

 7.[381](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20663) 

 the procedure for exercising the conversion or option rights and for waiving these rights.  

2 Where the bonds or similar debt instruments to which the conversion or option rights attach are not offered first to the shareholders for subscription, the articles of association must also stipulate:

1.

 the conditions on which the conversion or option rights may be exercised;

2.

 the basis on which the issue amount is to be calculated.

3 Conversion or option rights granted before the provision of the articles of association concerning the contingent capital has been entered in the commercial register are void.[382](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20700) 

[378](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20577) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[379](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20601) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[380](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20632) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[381](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20663) Inserted by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[382](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20700) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
4. Protection of shareholders

Art. 653c383

1 If the shareholders are granted option rights in connection with contingent capital, the rules on the subscription right in the case of an ordinary capital increase apply _mutatis mutandis_. 

2 If bonds or similar debt instruments to which conversion or option rights attach are issued in connection with contingent capital, they must be offered first to the shareholders for subscription in proportion to the shareholders’ existing participations.

3 This priority subscription right may be restricted or cancelled if:

1.

there is good cause; or

2.

 the shares listed on a stock exchange and the bonds or similar debt instruments are issued subject to appropriate conditions.

4 No one may gain an undue advantage or suffer an undue disadvantage as a result of the restriction or cancellation of the subscription right or the priority subscription right.

[383](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20726) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
5. Protection of beneficiaries of conversion or option rights

Art. 653d384

1 Persons who have a conversion or option right may not be barred from exercising that right on account of restrictions on the transferability of registered shares, unless this possibility is reserved in the articles of association and the prospectus.[385](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20811) 

2 Conversion or option rights may be adversely affected by a share capital increase, by the issue of new conversion or option rights, or in some other manner only if the conversion price is lowered or the beneficiaries are granted some other form of adequate compensation or if the shareholders suffer the same adverse effect.

[384](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20791) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[385](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20811) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
6. Execution of capital increase
a. Exercise of rights; capital contribution

Art. 653e386

1 The declaration on the exercise of the conversion or option rights shall refer to the provision of the articles of association concerning the contingent capital; where the law requires a prospectus, the declaration must refer to it.[387](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20862) 

2 Money contributions must be deposited in a bank as defined in Article 1 paragraph 1 of the Banking Act of 8 November 1934[388](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20885) for the exclusive use of the company.[389](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e20894) 

3 The shareholder’s rights are established when the capital contribution is made.

[386](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20842) Inserted by No I of the FA of 4 Oct. 1991, in force since 1 July 1992 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)).

[387](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20862) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).

[388](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20885) [SR **952.0**](eli/cc/51/117%5F121%5F129/en) 

[389](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20894) Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
6. Execution of capital increase
b. Audit confirmation

Art. 653f390

1 At the end of each financial year, a licensed audit expert shall verify whether the issue of the new shares was in conformity with the law, the articles of association and, if applicable, the prospectus. The external auditor shall confirm this in writing.

2 The board of directors may order the audit to be conducted earlier.

[390](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20923) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
6. Execution of capital increase
c. Amendment of the articles of association and statements of the board of directors

Art. 653g391

1 On receipt of the audit confirmation, the board of directors shall amend the articles of association and declare:

1.

 the number, nominal value and type of the newly issued shares;

2.

 if applicable the preferential rights that pertain to individual classes of shares;

3.

 the status of the share capital and of the contingent capital as at the end of the financial year or the date of the audit;

4.

 that it has received the documents on which the capital increase is based.

2 If the articles of association specify a capital band, the board of directors shall in amending the articles of association adjust the upper and lower limits of the capital band according to the extent of the capital increase, unless the capital is being increased on the basis of authorisation granted to the board of directors to increase the capital with contingent capital. 

3 The resolution on any amendment of the articles of association and the declarations must be done in a public deed. The notary must name the foundation documents individually and confirm that they have been laid before him or her. The supporting documents shall be attached to the public deed.

[391](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e20968) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
6. Execution of capital increase
c. Amendment of the articles of association and statements of the board of directors

Art. 653h392

[392](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e21029) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Repealed by No I of the FA of 19 June 2020 (Company Law), with effect from 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).
Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section One: General Provisions
I. Increase and reduction in the share capital
II. Increase from contingent capital
7. Deletion

Art. 653i393

1 The board of directors may repeal or amend the relevant provision of the articles of association on the contingent capital if:

1.

 the conversion or option rights have expired;

2.

 no conversion or option rights were granted; or

3.

 all or some of those entitled have decided not to exercise the conversion or option rights granted to them.

2 The articles of association may only be amended if a licensed audit expert has confirmed the circumstances in writing.

[393](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e21068) Inserted by No I of the FA of 4 Oct. 1991 ([AS **1992** 733](eli/oc/1992/733%5F733%5F733/en);[BBl **1983** II 745](eli/fga/1983/2%5F745%5F757%5F713/en)). Amended by No I of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 ([AS **2020** 4005](eli/oc/2020/746/en); [**2022** 109](eli/oc/2022/109/en);[BBl **2017** 399](eli/fga/2017/112/en)).