Division Three: Commercial Enterprises and the Cooperative278
Twenty-Sixth title:295 The Company Limited by Shares
Section Three Organisation of the Company Limited by Shares
A. The General Meeting
I. Powers

Art. 698

1 The supreme governing body of a company limited by shares is the general meeting.

2 It has the following inalienable powers:

1.

 to determine and amend the articles of association;

2.

 to elect the members of the board of directors and the external auditors;

 3.[521](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25544) 

 to approve the management report and the consolidated accounts;

4.

 to approve the annual accounts and pass resolutions on the allocation of the disposable profit, and in particular to set the dividend and the shares of profits paid to board members;

 5.[522](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25567) 

 to determine the interim dividend and approve the interim account required therefor;

 6.[523](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25592) 

 to pass resolutions on repaying the statutory capital reserve;

 7.[524](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25617) 

 to discharge the members of the board of directors;

 8.[525](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25642) 

 to delist the equity securities of the company;

 9.[526](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25667) 

 to pass resolutions concerning the matters reserved to the general meeting by law or the articles of association.[527](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25690) 

3 In companies whose shares are listed on a stock exchange, it has the following additional inalienable powers:

1.

 to elect the chair of the board of directors;

2.

 to elect the members of the remuneration committee;

3.

 to elect the independent voting representatives;

4.

 to vote on the remuneration of the board of directors, the executive board and the board of advisors.[528](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fn-d8e25722) 

[521](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25544) Amended by No I 1 of the FA of 23 Dec. 2011 (Financial Reporting Law), in force since 1 Jan. 2013 ([AS **2012** 6679](eli/oc/2012/810/en);[BBl **2008** 1589](eli/fga/2008/416/en)).

[522](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25567) 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)).

[523](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25592) 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)).

[524](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25617) 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)).

[525](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25642) 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)).

[526](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25667) 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)).

[527](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25690) Amended 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)).

[528](https://www.fedlex.admin.ch/eli/cc/27/317%5F321%5F377/en#fnbck-d8e25722) 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)).