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Art. 6 – Creation

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Art.6

Creation

1

Intermediated securities are created:

a.

when a custodian accepts certificated securities for collective custody and credits them to one or more securities accounts;

b.

when a custodian accepts a global certificate for custody and credits the respective rights to one or more securities accounts;

c.22

when a custodian registers uncertificated securities in the main register and credits the respective rights to one or more securities accounts; or

d.23

when ledger-based securities are transferred to a custodian and the respective rights are credited to one or more securities accounts.

2

For each issue of uncertificated securities, a single custodian shall maintain the main register. The main register shall provide details of the issue, the quantity, and the nominal value of the uncertificated securities issued; it shall be public.24

3

On being transferred to a custodian, the ledger-based securities shall be immobilised in the securities ledger.25

  1. 22 Amended by No I 9 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
  2. 23 Inserted by No I 9 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
  3. 24 Amended by No I 9 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
  4. 25 Inserted by No I 9 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
Legal act context
SR 957.1 · FISA · Federal act · Federal Act of 3 October 2008 on Intermediated Securities (Federal Intermediated Securities Act, FISA)
Structure path
Chapter 2 Creation, Extinction and Conversion of Intermediated Securities
Language
English (en)
Data status
2023-01-01

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