Kanton Glarus (IVBSA)

Joint Supervisory Region

1 The Cantons of Zurich, Glarus, Schaffhausen, Appenzell Ausserrhoden, Ap-

penzell Innerrhoden, St. Gallen, Graubünden, Thurgau, and Ticino (the “Agreement

Cantons”) form a joint supervisory region for the supervision of

a. occupational pension schemes in accordance with Article 61 of the

Federal Act on Occupational Retirement, Survivors' and Invalidity

Pension Plans (BVG)¹);

b. classical foundations in accordance with Article 84 of the Swiss Civil

Code (ZGB)²), to the extent that the Agreement Cantons have transferred

this task to the institution.

Institution, a. Principle

1 Under the name "BVG and Foundation Supervisory Authority of the Cantons of Zurich, Glarus,

Schaffhausen, Appenzell Ausserrhoden, Appenzell Innerrhoden, St. Gallen,

Graubünden, Thurgau and Ticino" an intercantonal public-law

institution with its own legal personality and seat in Zurich exists.

1. Amtssprache der Anstalt ist Deutsch.

2. Die Anstalt stellt ihre Leistungen im Zusammenhang mit einer Einrichtung der beruflichen Vorsorge oder einer klassischen Stiftung in einer Amtssprache des Vereinbarungskantons zur Verfügung, in welchem die Einrichtung oder Stiftung ihren Sitz hat.

1. Die Anstalt

| | | | | | --- | --- | --- | --- | | a. | erfüllt die den Kantonen nach der Bundesgesetzgebung über die berufliche Alters-, Hinterlassenen- und Invalidenvorsorge übertragenen Aufgaben; | | |

| | | | | | --- | --- | --- | --- | | b. | übernimmt die Aufgaben im Bereich der klassischen Stiftungen, soweit ihr die Vereinbarungskantone diese Aufgaben gemäss Artikel 35 übertragen haben. | | |

2. Die Vereinbarungskantone können der Anstalt weitere Aufgaben im Bereich der klassischen Stiftungen übertragen, insbesondere die Funktionen als Kantonsbehörde gemäss Artikel 85, 86, 86a und 88 ZGB und die Behandlung von Rechtsmitteln.

Applicable Law

1 Unless otherwise specified, the law of the Canton of Zurich shall apply.

Personnel

1 The public employment law of the Canton of Zurich applies to the employees

of the institution.

2 The Board of Directors may issue divergent provisions in the personnel

regulations, to the extent that this is necessary for operational reasons.

3 Employees of the institution who are compulsorily insured under federal

legislation on occupational old-age, survivors' and invalidity insurance must be

insured with an occupational benefits institution that is not supervised by the

institution itself.

Legal Protection

1 Decisions of the institution in the field of occupational old-age, survivors' and disability pension schemes may be appealed in accordance with Article 74 of the Federal Act on Occupational Old-Age, Survivors' and Disability Pension Schemes (BVG).

2 Decisions and appeal rulings of the institution in the field of traditional foundations may be appealed in accordance with the legal procedural provisions of the agreement canton to which the foundation belongs by virtue of its purpose.

3 Other decisions and decrees of the institution may be appealed in accordance with the legal procedural provisions of the Canton of Zurich.

4 Appeals against decrees of the institution do not have a suspensive effect.

Official Publications

1 Official publications of the institution shall be published in the official gazettes of the concerned agreement cantons.

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2. Organisation

Organs

1 The organs of the institution are

a. the Concordat Council;

b. the Board of Directors;

c. the Executive Board;

d. the Auditing Body.

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Concordat Council, a. Composition

1 The Concordat Council consists of one member from the government of each contracting canton.

2 It constitutes itself and elects its chair from among its members.

3 The secretariat of the Concordat Council is managed by the Executive Board.

1. Der Konkordatsrat ist beschlussfähig, wenn die Mehrheit seiner Mitglieder persönlich anwesend ist oder mit elektronischen Mitteln an der Sitzung teilnimmt.

2. Die Beschlüsse werden durch einfaches Mehr der Stimmenden gefasst. Die oder der Vorsitzende stimmt mit. Bei Stimmengleichheit gibt ihre oder seine Stimme den Ausschlag.

3. Beschlüsse können auf dem Zirkularweg gefasst werden. Jedes Mitglied kann eine Sitzung verlangen.

4. Die Präsidentin oder der Präsident des Verwaltungsrates und die Direktorin oder der Direktor nehmen an den Sitzungen mit beratender Stimme und Antragsrecht teil.

1. Der Konkordatsrat

| | | | | | --- | --- | --- | --- | | a. | wählt die Präsidentin oder den Präsidenten und die übrigen Mitglieder des Verwaltungsrates; | | |

| | | | | | --- | --- | --- | --- | | b. | legt die Entschädigung der Mitglieder des Verwaltungsrates fest; | | |

| | | | | | --- | --- | --- | --- | | c. | genehmigt die Wahl oder Abberufung der Direktorin oder des Direktors; | | |

| | | | | | --- | --- | --- | --- | | d. | wählt die Revisionsstelle; | | |

| | | | | | --- | --- | --- | --- | | e. | genehmigt die Jahresrechnung und den Geschäftsbericht; | | |

| | | | | | --- | --- | --- | --- | | f. | sorgt für eine angemessene Berichterstattung in den jeweiligen Vereinbarungskantonen; | | |

| | | | | | --- | --- | --- | --- | | g. | genehmigt die Reglemente der Anstalt über die Organisation, das Personal, das Finanzwesen und die Gebühren; | | |

| | | | | | --- | --- | --- | --- | | h. | regelt mit einem Vereinbarungskanton die Einzelheiten dessen Austritts aus der Vereinbarung; | | |

| | | | | | --- | --- | --- | --- | | i. | legt bei Austritt des Kantons Zürich aus der Vereinbarung den Sitz der Anstalt, das anwendbare Recht und die Zuständigkeit der Gerichte neu fest; | | |

| | | | | | --- | --- | --- | --- | | j. | entscheidet bei einvernehmlicher Auflösung der Vereinbarung über die Verwendung des Vermögens. | | |

2. Er stellt bei der Wahl des Verwaltungsrates sicher, dass dessen Mitglieder unabhängig sind und über die erforderlichen Fähigkeiten verfügen.

1. Die Entschädigung der Mitglieder des Konkordatsrates ist Sache der Vereinbarungskantone.

Board of Directors, a. Composition and Term of Office

1 The Board of Directors consists of the President and four other members.

2 The term of office is four years. Re-election twice is possible.

3 For the rest, the Board of Directors constitutes itself.

1. Der Verwaltungsrat ist beschlussfähig, wenn die Mehrheit seiner Mitglieder persönlich anwesend ist oder mit elektronischen Mitteln an der Sitzung teilnimmt.

2. Die Beschlüsse werden durch einfaches Mehr der Stimmenden gefasst. Die Präsidentin oder der Präsident stimmt mit. Bei Stimmengleichheit gibt ihre oder seine Stimme den Ausschlag.

3. Beschlüsse können auf dem Zirkularweg gefasst werden. Jedes Mitglied kann eine Sitzung verlangen.

4. Die Direktorin oder der Direktor nimmt an den Sitzungen mit beratender Stimme und Antragsrecht teil.

1. Der Verwaltungsrat

| | | | | | --- | --- | --- | --- | | a. | führt die Anstalt in strategischer und finanzieller Hinsicht; | | |

| | | | | | --- | --- | --- | --- | | b. | übt die unmittelbare Aufsicht über die Geschäftstätigkeit der Anstalt aus; | | |

| | | | | | --- | --- | --- | --- | | c. | wählt die Direktorin oder den Direktor und beruft sie oder ihn ab; | | |

| | | | | | --- | --- | --- | --- | | d. | genehmigt die Wahl der Mitglieder der Geschäftsleitung; | | |

| | | | | | --- | --- | --- | --- | | e. | setzt das Budget und die Finanzplanung fest; | | |

| | | | | | --- | --- | --- | --- | | f. | beschliesst über die Gewinnverwendung; | | |

| | | | | | --- | --- | --- | --- | | g. | nimmt den Bericht der Revisionsstelle zur Kenntnis; | | |

| | | | | | --- | --- | --- | --- | | h. | verabschiedet die Jahresrechnung und den Geschäftsbericht; | | |

| | | | | | --- | --- | --- | --- | | i. | erlässt die Reglemente der Anstalt über die Organisation, das Personal, das Finanzwesen und die Gebühren; | | |

| | | | | | --- | --- | --- | --- | | j. | genehmigt die Geschäftsordnung der Anstalt; | | |

| | | | | | --- | --- | --- | --- | | k. | erlässt die Leitlinien über die Informationstätigkeit der Anstalt. | | |

Management, a. Composition

1 The Management consists of the Director and other members appointed by him or her.

2 For the rest, the Management constitutes itself.

1. Die Geschäftsleitung

| | | | | | --- | --- | --- | --- | | a. | führt die Anstalt in fachlicher, operativer und personeller Hinsicht; | | |

| | | | | | --- | --- | --- | --- | | b. | erlässt die Geschäftsordnung der Anstalt; | | |

| | | | | | --- | --- | --- | --- | | c. | erarbeitet die Entscheidungsgrundlagen des Verwaltungsrates und berichtet ihm regelmässig, bei besonderen Ereignissen unverzüglich; | | |

| | | | | | --- | --- | --- | --- | | d. | erstellt die Jahresrechnung und verfasst den Geschäftsbericht; | | |

| | | | | | --- | --- | --- | --- | | e. | erfüllt alle Aufgaben, die keinem anderen Organ zugewiesen sind. | | |

Audit Office

1 The audit office examines the annual financial statements and reports the result to the board of directors.

3. Finances

Accounting and Financial Planning

1 Accounting is carried out according to the principles of commercial

bookkeeping.

2 The institution prepares financial planning, a budget, and an annual report.

Financing

1 The institution is financed through cost-covering fees.

Fees

1 The institution charges

a. annual supervisory fees;

b. fees for individual examinations, rulings, and other services.

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2 The annual supervisory fee is calculated based on the balance sheet total of the supervised institution, including surrender values. The following tariffs are applied for the following types of institutions

a. collective and community institutions;

b. other pension schemes, including institutions that serve occupational pension purposes;

c. classic foundations.

3 The remaining fees are determined based on the effort involved, within the framework set by the schedule of fees.

Equity Capital

1 Equity capital amounts to 80 to 120 percent of the institution's annual expenses.

2 If this range is fallen short of or exceeded, the Board of Directors shall increase or decrease the fees accordingly.

Loans

1. To ensure solvency, the contracting cantons may grant loans to the institution.

2. Loans are granted at cost.

3. The institution may repay loans in full or in part at any time.

Tax Exemption

1 The Institution is exempt from the state, district, and municipal taxes of the contracting cantons.

Liability

1 The institution is liable for its obligations and for damages unlawfully inflicted upon third parties by its organs and employees in the exercise of their official duties.

2 It shall conclude liability insurance policies.

4. Dispute Resolution

1. A court of arbitration shall decide disputes between the contracting cantons or between contracting cantons and the institution.

2. Each party to the dispute shall appoint a member of the court of arbitration.

3. The parties to the dispute shall jointly appoint

a. a chair of the court of arbitration;

b. an additional member of the court of arbitration, if the court of arbitration would otherwise have an even number of members.

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If the parties to the dispute cannot agree on a joint appointment, the President of the Administrative Court of the Canton of Zurich shall appoint the chair and any additional member of the court of arbitration.

5. Withdrawal from and Dissolution of the Agreement

Withdrawal, a. in General

1. Each signatory canton may withdraw from the agreement subject to a notice period of two years to the end of a calendar year. Withdrawal may take place for the first time five years after the entry into force of this agreement.

2. The withdrawing signatory canton has no claim to shares in the assets of the institution.

3. The Concordat Council shall adapt the wording of the title as well as of Articles 1 and 2 of the agreement.

4. Otherwise, the withdrawal of a signatory canton shall be regulated between that canton and the Concordat Council.

1. Tritt der Kanton Zürich aus der Vereinbarung aus, legt der Konkordatsrat den Sitz der Anstalt, das anwendbare Recht gemäss Artikel 5 und 6 Absatz 1 und die Zuständigkeit der Gerichte gemäss Artikel 7 Absatz 3 und 27 Absatz 4 neu fest.

2. Absatz 1 gilt für einen neuen Sitzkanton sinngemäss.

Dissolution

1 The contracting cantons may, by unanimous resolution of their competent

bodies and observing a period of two years, mutually dissolve the agreement

effective at the end of a calendar year.

2 The Concordat Council decides on the use of assets.

6. Transitional and Final Provisions

Succession in Law

1 At the time of the entry into force of this agreement, all assets and liabilities as well as all contracts of the BVG and Foundation Supervisory Authority of the Canton of Zurich and the Eastern Switzerland BVG and Foundation Supervisory Authority shall transfer to the institution.

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Dissolution of the Existing Institutions

1 The BVG and Foundation Supervisory Authority of the Canton of Zurich and the Eastern Switzerland BVG and Foundation Supervisory Authority shall be dissolved upon the entry into force of this agreement.

Liability for Claims Arising Before Entry into Force

1 For uncovered liability claims arising from the former activities of the BVG-

and Foundation Supervisory Authority of the Canton of Zurich and the Eastern

Switzerland BVG- and Foundation Supervisory Authority, the institution shall

be liable for ten years from the entry into force of this agreement, up to the

amount of equity capital contributed by the respective institution.

2 Furthermore, for claims arising from the former activities of the Eastern

Switzerland BVG- and Foundation Supervisory Authority, the Cantons of Glarus,

Appenzell Ausserrhoden, Appenzell Innerrhoden, St. Gallen, Graubünden, Thurgau,

and Ticino shall be subsidiarily liable in accordance with the liability rules of

the Intercantonal Agreement on the Eastern Switzerland BVG- and Foundation

Supervisory Authority of September 26, 2005.

3 The liability of the Canton of Ticino is limited to claims that arose from its

accession to the Eastern Switzerland BVG- and Foundation Supervisory Authority.

Equity

1 The initial capital of the institution consists of equity contributed by the BVG and Foundation Supervisory Authority of the Canton of Zurich and the Eastern Switzerland BVG and Foundation Supervisory Authority.

2 The minimum equity in accordance with Article 23, paragraph 1 must be fully accumulated within ten years.

Tasks in the Field of Classical Foundations

1. Upon the entry into force of this agreement, the institution shall assume the following tasks in the field of classical foundations for the undersigned cantons

a. Canton Zurich

1. Supervision, insofar as the districts or municipalities are not responsible for it under cantonal law;

2. Decision on appeals against orders of the districts and municipalities;

3. Function as cantonal authority in accordance with Articles 85, 86 and 86a ZGB (Swiss Civil Code);

4. Function as cantonal authority in accordance with Article 88 ZGB, insofar as the districts or municipalities are not responsible for it under cantonal law;

b. Canton St. Gallen

1. Supervision;

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2. Function as cantonal authority in accordance with Articles 85, 86, 86a and 88 ZGB;

c. Canton Thurgau: all tasks of the canton;

d. Canton Ticino

1. Supervision;

2. Function as cantonal authority in accordance with Articles 85, 86, 86a and 88 ZGB.

Entry into force

1 This Agreement shall enter into force on 1 January of the year following the year in which all signatory cantons have acceded to the Agreement.

2 The Concordat Council shall commence its activities on the first day of the month following the month in which all signatory cantons have acceded to the Agreement.

3 The Administrative Board shall commence its activities immediately after its election by the Concordat Council.