Art. 22

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

1. Legal entities may include the following in qualifying capital:
   1. the paid-up share and participation capital in the case of a company limited by shares and partnership limited by shares, and the issued capital in the case of a limited liability company;
   2. the general statutory reserve and other reserves;
   3. retained earnings;
   4. the net profit for the current financial year after deducting the estimated earnings distribution, provided an audited interim financial statement including full income statement is available;
   5. hidden reserves, provided they are assigned to a separate account and designated as own funds. Their allowability must be confirmed in the audit report¹.
2. Partnerships may include the following in qualifying capital:²
   1. the capital accounts;
   2. the partnership contributions;
   3. ³ …
   4. the funds of the partners with unlimited liability, provided the conditions stated in Article 20 paragraph 3 are met.
3. …⁴
4. The qualifying capital as defined in paragraphs 1 and 2 letters a–d must account for at least 50 per cent of the total required.