Introduction
On 16 June 2020 the legislature passed draft modifications of Swiss corporate law, which would amend, among other things, substantial parts of the Code of Obligations. This marked the end of what is generally known as the large corporate law reform which officially started in 2007. Since then, numerous parts of the reform project have been buried, changed, introduced to or removed from the main part of the project to be dealt with separately.
As part of the final modifications dated 16 June 2020, the provisions concerning the reduction of the share capital of Swiss corporations will be amended. The new law s entry into force has yet to be scheduled but, together with most of the new provisions, it is expected to come into force in 2022. On entry into force, the new provisions will become applicable to existing corporations. Within two years of the law coming into force, corporations articles of association and regulations must be adapted to the new law. Two years