Switzerland: A simple plan
The Swiss Merger Act, introduced in July 2004, was intended to create a more effective framework for the management of corporate transactions in Switzerland. Ulysses von Salis looks at how it is working in practice
On 1 July, 2004, the new Swiss Merger Act came into force. By means of a codification of recent practice, supplemented by quite detailed procedural provisions, this law makes available certain important new transactional tools for facilitating reorganisations. Its main focus is on provisions relating to reorganisations of share corporations and limited liability companies. The law also applies, however, to all other types of companies, including general and limited partnerships, as well as to associations and foundations – areas in which, until now, there was no codified law. Furthermore, and importantly, the revision of the relevant tax laws has removed certain hindrances to reorganisations and eliminated some legal uncertainties.
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