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Abolition of Bearer Shares

Abolition of Bearer Shares

Subsequent to the deliberation in the Swiss parliament it is confirmed that the bearer shares will be abolished in Switzerland. Exceptions solely apply for companies with equity securities listed on a stock exchange and for companies with bearer shares issued as intermediated securities held by a Swiss custodian. As a result, new company foundations with bearer shares are generally not possible after the entry into force of the law (expected on 1 January 2020). Existing bearer shares will need to be converted into registered shares. The act provides for a transitional period of 18 months since the entry into force of the law. After this period, still existing bearer shares will be converted into registered shares by law.

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