Art. 115

(Art. 95 para. 1 let. a and b CISA)

1. In the case of the merging of two investment funds, the investors of the fund being transferred receive an equivalent number of units in the acquiring fund. The fund being transferred is terminated without liquidation.
2. The fund contract governs the merging procedure. In particular, it contains provisions regarding:
   1. the information to be given to the investors;
   2. the audit company's duty to inspect the accounts at the time of the merger.
3. FINMA may grant limited deferment of repayment if the merger is likely to take more than one day.
4. The fund management company shall notify FINMA that the merger has been completed.
5. .¹