Art. 45

(Art. 29 FinIA)

1. Legal entities may count the following as qualifying capital:
   1. the paid-up share and participation capital in the case of a company limited by shares and a partnership limited by shares, and the nominal capital in the case of a limited liability company;
   2. the general statutory and other reserves;
   3. retained earnings;
   4. the net profit for the current financial year after deduction of the estimated share in the profit distribution, provided an audit review or an audit pursuant to the CO¹of the interim or annual accounts confirms the assurances stipulated;
   5. hidden reserves, provided they are assigned to a separate account and designated as own capital and their qualifiability as such is confirmed on the basis of the audit in accordance with Article 63 FinIA.
2. Partnerships may count the following as qualifying capital:
   1. the capital accounts and assets of partners with unlimited liability if the conditions under Article 42 paragraph 4 are satisfied;
   2. the limited partnership contribution.
3. Managers of collective assets may also count as qualifying capital any loans granted to them, including bonds with a maturity of at least five years, if a declaration is provided to the effect that:
   1. in the event of liquidation, bankruptcy or probate proceedings, such loans shall be subordinate to the claims of all other creditors; and
   2. they have undertaken neither to net such loans with their own claims nor to secure them with their own assets.
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 the audit firm.
5. Own capital in accordance with paragraphs 1 and 2 must amount to at least 50% of total capital required.