Kapitalerhöhung, Kapitalherabsetzung, insb. innerhalb des Kapitalbands, und der Erwerb und die Veräusserung eigener Aktien

The corporate law reform was passed by the Swiss Parliament on 19 June 2020. It will most probably enter into force in 2023. Its most innovative feature, the capital band, raises a lot of interesting legal issues, inter alia regarding its relationship with the provisions on the acquisition and disposal of own shares. The following article analyses this relationship and the relationship of capital increases and decreases and the acquisition and disposal of own shares in general. It concludes that the provisions on capital increases and decreases, also the ones within the capital band, and the provisions on the acquisition and disposal of own shares are cumulatively applicable in case of own shares which are acquired or disposed of within the wider context of a capital increase or decrease.