• Font Size:
  • S
  • M
  • L

Article NO. Content

Title:

Securities and Exchange Act  CH

Amended Date: 2024.08.07 (Articles 14 amended,English version coming soon)
Current English version amended on 2023.06.28 
Article 113 (Numbers and Qualifications of Directors and Supervisors)
    A membership stock exchange shall have at least three directors and one supervisor elected from among its members in accordance with the provisions of the articles of association; however, at least one third of the directors, and at least one supervisor, shall be elected from related experts who are non-members.
    The term of office of both directors and supervisors shall be three years; re-election shall be permissible.
    The board of directors shall be formed by directors; the chairman of the board, who shall be a non-member director, shall be elected by a majority vote of the directors.
    The board chairman shall be a full-time executive officer; however, this restriction shall not apply if the stock exchange has assigned a managerial officer vested with full authority to take charge of operations.
    Standards and regulations governing the election of non-member directors and supervisors as referred to in paragraph 1 shall be prescribed by the Competent Authority.