Art. 10

(Art. 120 paras. 1 and 3, 123 para. 1 FinMIA)

1. The beneficial owners of equity securities under Article 120 paragraph 1 FinMIA are subject to the notification duty. A beneficial owner is the party controlling the voting rights stemming from a shareholding and bearing the associated economic risk.
2. If the voting rights are not exercised directly or indirectly by the beneficial owner, any person who has full discretionary powers to exercise the voting rights is also subject to the notification duty in accordance with Article 120 para. 3 FinMIA. If the person who has full discretionary powers to exercise voting rights is directly or indirectly controlled, their notification duty is met where the controlling person reports on a consolidated basis. In such case, the controlling person is considered to be subject to the notification duty.¹
3. There is no notification duty, if:
   1. notification of reaching a threshold was provided and that threshold is exceeded, without the subsequent threshold being reached or exceeded;
   2. notification of reaching or exceeding a threshold was provided and that threshold is met again, without having reached or exceeded the subsequent threshold;
   3. a threshold is temporarily reached, exceeded or fallen below during a trading day.