English translation of article 59 of the Swiss Insurance Supervision Act

Restrictions on disposal

Chapter 5: Supervision
Section 4: Additional protective measures with respect to foreign insurance companies
> Art. 58 Place of debt enforcement and compulsory realisation
< Art. 60 Relinquishment

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 59 of the Swiss Insurance Supervision Act 

Restrictions on disposal

If the supervisory authority of the country of domicile of the insurance company has restricted or prohibited the free disposal of assets of the insurance company, FINMA may, upon request of said supervisory authority, take the same measures against the insurance company in respect of its entire Swiss business.