Social Security Funds Act
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 6 Management bodies
The management bodies of the Institution are: a. the Board of Directors; b. the Executive Board; c. the Auditor.
Art. 7 Board of Directors
1 The Board of Directors is the supreme governing body. 2 It comprises eleven qualified members, who must guarantee irreproachable business conduct. Swiss employer and employee associations and the Confederation must be appropriately represented. 3 The Federal Council determines a profile of requirements for holding office on the Board of Directors. 4 It appoints the members for a term of office of four years and names the Chair and Vice-Chair. Each member may be reappointed twice and removed at any time for good cause. 5 The Federal Council determines the fee paid to the members of the Board and their other contractual conditions. 6 The contract between the members of the Board of Directors and the Institution is governed by public law. In addition, the provisions of the Code of Obligations apply by analogy. 7 The members of the Board of Directors must perform their tasks and duties with all due diligence and safeguard the Institution’s interests in good faith. They are required to ob
Para. 6 — SR 220
Art. 8 Tasks of the Board of Directors
1 The Board of Directors has the following tasks: a. It issues the Institution’s organisational regulations and submits these to the Federal Department of Home Affairs (FDHA) for approval. b. It issues the investment regulations and determines the investment strategy. c. It issues the Institution’s personnel ordinance and submits it to the Federal Council for approval. d. It takes organisational and contractual measures to safeguard the Institution’s interests and prevent conflicts of interest. e. It approves the Institution’s personnel budget. f. It decides on the establishment, amendment and termination of the employment relationship with the Chief Executive Officer and the other members the Executive Board. g. It supervises the Executive Board. h. It ensures that the Institution has suitable internal control and risk management systems. i. It ensures the solvency of the Institution as an undertaking and of each social security fund. j. It determines the accounting policies based on
Para. 1 let. o — SR 172.220.1
Art. 9 Executive Board
1 The Executive Board is the Institution’s operational management body. It is headed by a Chief Executive Officer. 2 The Executive Board has the following tasks in particular: a. It conducts the business. b. It prepares the business of the Board of Directors and of the committees. c. It prepares the budget for the Institution’s operating and administrative expenses. d. It reports to the Board of Directors regularly and in the case of special events immediately. e. It represents the Institution externally. f. It decides on the establishment, amendment and termination of the employment relationships with the Institution’s personnel; Article 8 paragraph 1 letter f is reserved. g. It performs all the tasks which are not assigned to another management body under this Act, the organisational regulations or the specifications set by the Board of Directors. 3 The organisational regulations regulate the details. 4 The Chief Executive Officer attends the meetings of the Board of Directors in an
Art. 10 Auditor
1 The Federal Council appoints the auditor at the request of the Board of Directors. The auditor is responsible for auditing the Institution, including the annual financial statements of the OASI/AHV/AVS, InvI/IV/AI and LEC/EO/APG. It examines the annual financial statements for asset management and confirms that internal control and risk management systems are in place; it also examines the information on personnel development disclosed in the management report (Art. 16 para. 1 let. b). 2 The provisions of company law on ordinary audits apply by analogy. 3 The auditor provides the Board of Directors and the Federal Council with a comprehensive report on the results of its audit. 4 The Institution must ensure that the contractual terms governing its business relationships with custodian banks provide the auditor with access to the relevant results of the external audit conducted in respect of such banks. Provided it has been contractually arranged, the Institution’s auditor may instruc