Art. 121

(Art. 103 para. 2 CISA)

1. The following are specifically permitted:
   1. ¹ construction, real estate and infrastructure projects;
   2. alternative investments;
   3. ² other investments, in particular investments in real estate or infrastructure;
   4. ³ mixed forms of all possible investments in accordance with Article 120 and Article 121.
2. The company agreement regulates the details.
3. Construction, real estate and infrastructure projects are permitted only if they are by persons that are neither directly nor indirectly related to:
   1. the general partner;
   2. the persons responsible for the administration and the management; or
   3. the investors.⁴
4. The general partner, the persons responsible for the administration and the management and closely connected natural and legal persons, and the investors in an LPCI, may acquire real estate and infrastructure assets from that partnership or assign any such assets to it if:
   1. the market conformity of the purchase and selling price of the real estate assets and infrastructure assets as well as the transaction costs are confirmed by an independent valuation expert; and
   2. the shareholders' meeting has approved the transaction.⁵