Company law is set to be modernised, with effect from 1 January 2023.
The new law will include an easing of the provisions on foundation and capital: the use of a foreign currency will be allowed for the establishment of the share capital, and the board of directors will have greater flexibility in establishing the amount of the share capital within the framework of what we will call the “capital fluctuation band”.
The revised law will also include a broad range of facilities for holding the shareholders’ meeting: in Switzerland or abroad, in one or more places, face-to-face or virtually.
Within the framework of the revision, the provisions of the current ordinance against excessive executive pay (this was a provisional implementation of Article 95, paragraph 3 of the Federal Constitution) will be transposed into a formal law.
Author: swisNot, Bern