Art. 60

(Art. 37 FinIA)

1. Fund management companies may count the following as qualifying capital:
   1. the paid-up share and participation capital;
   2. the general statutory and other reserves;
   3. retained earnings;
   4. the net profit for the current financial year after deduction of the estimated profit distribution, provided an audit review of the interim accounts including a complete income statement is available;
   5. hidden reserves, provided they are assigned to a separate account and designated as capital and their qualifiability as such is confirmed on the basis of the audit in accordance with Article 63 FinIA.
2. Fund management companies 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. the fund management company undertakes neither to net such loans with its own claims nor to secure them with its own assets.
3. The declaration in accordance with paragraph 2 is irrevocable. It must be made in writing or in another form demonstrable via text and filed with the audit firm.
4. Capital in accordance with paragraph 1 must amount to at least 50% of total capital required.