Art. 20

(Art. 14 para. 1 let. d CISA)¹

1. In the case of a company limited by shares and a partnership limited by shares, the capital is the share and participation capital, and in the case of a limited liability company it is the issued capital.
2. In the case of partnerships, the capital is:²
   1. the capital accounts;
   2. the partnership contributions; and
   3. the assets of the partners with unlimited liability.
3. The capital accounts and assets of the partners with unlimited liability may only be counted towards the capital if a declaration is provided to the effect that:³
   1. in the event of liquidation, bankruptcy or administration proceedings such assets shall be subordinate to the claims of all other creditors; and
   2. an obligation exists:⁴
   1. not to net such assets with its own claims nor secure them from its own assets, 2. not to reduce any of the components of the capital as defined in paragraph 2 letters a and c to the extent that the minimum capital is no longer maintained without the prior consent of the audit company.
4. The declaration in accordance with paragraph 3 is irrevocable. It must be made in writing or in another form demonstrable via text and filed with a licensed audit company.⁵