§ 15 Act on the Supervision of Occupational Pension Plans (BVG) and Foundations (G-BVSA) - Foundations

1. The BVSA specifically reviews

a) Annual accounts and balance sheet,

b) Capital investments,

c) Benefits to beneficiaries,

d) Composition of the foundation's organs,

e) Foundation documents and regulations,

f) Liquidation.

2. In its review pursuant to paragraph 1, it limits itself to a legal examination. Abuse of discretion and excess of discretion are considered legal violations.

3. It takes the necessary measures to rectify identified deficiencies if the foundation's organs do not act within the scope of proper discretion.

4. It may alter the organization or purpose of a foundation (Articles 85, 86, and 86a of the Swiss Civil Code) and decides on the dissolution of such foundations (Article 88 paragraph 1 of the Swiss Civil Code).

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