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934.21 BGRBLEACLIAC CH

Art. 5b Federal Act of 10 October 1997 on Confederation Armament Companies (CAAC) - Subsequent Increase of Coverage Capital

LEAC
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Art. 5b LEAC · Subsequent Increase of Coverage Capital

If the coverage capital prescribed in the statutes of the armament companies increases as a result of the clearance of records carried out with the Federal Pension Fund, the Confederation shall bear the resulting coverage supplement. For this purpose, the DDPS, with the authorization of the Federal Council, submits a letter of guarantee to this effect. Any modification made to the number of insured persons and data fields is considered as record clearance.

In the event of an increase in the coverage capital as provided in para. 1, the Confederation ensures the appropriate endowment of armament companies with equity capital. The applicable accounting standards at the end of the record clearance process are determinative. The Federal Council determines the arrangements, schedule, and amount of the necessary recapitalization.

The expenditure resulting from paras. 1 and 2 for the Confederation is recorded in the capital account and amortized over several fiscal periods in the income statement.

← Art. 5a LEAC Federal Act of October 10, 1997, on the Confederation’s Armament Companies (AACC) - Armament Companies Art. 6 LEAC →

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Court Decisions Applying This Provision (2)

VPB 2000.78 (Art. 5b LEAC)
RUAG Recapitalization and Pension Funding Amendments
Creates a legal basis for the Confederation to provide a guarantee in case of coverage shortfalls during the processing of files.
VPB 2166-2000-0080 (Art. 5b al. 1 LEAC)
Federal Law on Armament Enterprises Amendment: Capitalization and Equity Provisions
This provision is cited as the basis for the Confederation covering supplementary coverage requirements arising from the revision of records at the Federal Pension Fund for armament companies.