Persons and institutions who hold or manage in Switzerland assets that have been made subject to a freezing order pursuant to the terms of this Act shall continue to administer them once the order has been issued. They shall inform the FDFA immediately where the value of the assets is at risk of declining rapidly or the cost of maintaining the assets is excessive.
Persons and institutions who administer frozen assets pursuant to paragraph 1 shall provide the FDFA, on its request, with all information and documents relating to the freezing and management of the assets in question.
The principles that govern the investment of seized assets applymutatis mutandis to the administration of assets frozen under the provisions of this Act.
The FDFA may order the measures necessary to avoid the risk of a rapid decline in the value of the assets or excessive maintenance costs, including the immediate liquidation of the assets pursuant to the provisions of the Federal Act of 11 April 18891on Debt Enforcement and Bankruptcy. The terms of paragraph 1 also apply to the liquidation proceeds.
Where a freeze on the assets has also been imposed within the framework of criminal proceedings or of mutual legal assistance proceedings, management of the assets is the responsibility solely of the authority overseeing the criminal proceedings or the mutual legal assistance proceedings. That authority shall inform the FDFA before ordering the freeze to be lifted.