Federal Act on Private International Law (PILA)
Inserted by Art. 2 of the FD of 3 Oct. 2008 on the Approval and Implementation of the Convention on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary, in force since 1 Jan. 2010 (AS 2009 6579; BBl 2006 9315).
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
I. Definition
Art. 108a
Intermediated securities are securities held with an intermediary as defined in the Hague Convention of 5 July 2006 on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary.
Art. 108a — Amended by No I 3 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233). SR 0.221.556.1
II. Jurisdiction
Art. 108b
1 The Swiss courts at the domicile or, in the absence of a domicile, at the habitual residence of the defendant have jurisdiction to hear actions regarding intermediated securities. 2 Where actions regarding intermediated securities relate to the operations of a Swiss establishment of the defendant, the courts at the place of that establishment also have jurisdiction.
III. Applicable Law
Art. 108c
The law applicable to intermediated securities is governed by the Hague Convention of 5 July 2006 on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary.
SR 0.221.556.1
IV. Foreign decisions
Art. 108d
Foreign decisions regarding intermediated securities are recognised in Switzerland: a. if they were rendered in the state of the defendant’s domicile or habitual residence; or b. if they were rendered in the state of the defendant’s establishment and they concern claims related to the operations of this establishment.