Art. 131

(Art. 14 para. 1 let. d CISA)

1. The representative of foreign collective investment schemes must possess minimum capital of 100 000 Swiss francs. This must be paid up in full and maintained at all times.
2. FINMA may permit partnerships to provide, instead of minimum capital, collateral in the form of a bank guarantee or a cash deposit in a blocked account with a bank, said collateral being equivalent to the minimum capital.
3. Where there are legitimate grounds for so doing, FINMA may stipulate a different minimum amount.
4. In all other respects, Article 20 applies accordingly.