Duty of disclosure on acquisition of control

(1) Where an AIF, alone or jointly with other AIF, acquires control over a non-listed company or an issuer under section 287(1) in conjunction with section 288(1), the AIF capital management company presents the information named in subsection (2) to the following bodies: 1. the company concerned, 2. the shareholders, insofar as their identity and address a) are available to the AIF capital management company, b) can be made available to it by the non-listed company, or c) can be made available to it through a register to which the AIF capital management company has access or can obtain access, and 3. the Federal Institute.
(2) The AIF capital management company presents the following information: 1. the identity of the AIF capital management companies that, either alone or under an agreement with other AIF capital management companies, manage the AIF that have acquired control, 2. the principles for preventing and managing conflicts of interest, in particular between the AIF capital management company, the AIF, and the company, including information on the particular safeguards put in place to ensure that agreements between the AIF capital management company or the AIF and the company are concluded as between independent business partners, and 3. the principles for external and internal communication relating to the company, in particular towards employees.
(3) In its notification under subsection (1), point 1, the AIF capital management company requests the management board of the company to inform, without delay, either the employee representatives or, where there are no such representatives, the employees themselves, of the information under subsection (2). The AIF capital management company must use its best endeavours to ensure that the management board duly informs either the employee representatives or, where there are no such representatives, the employees themselves.
(4) The AIF capital management company must ensure that the following information is disclosed to the companies and shareholders named in subsection (1), points 1 and 2: 1. the intentions of the AIF with regard to the future business development of the non-listed company, and 2. the likely effects on employment, including material changes to working conditions. Furthermore, the AIF capital management company requests the management board of the non-listed company to make the information named in this subsection available to either the employee representatives or, where there are no such representatives, the employees of the non-listed company themselves, and must use its best endeavours to ensure this.
(5) As soon as an AIF acquires control over a non-listed company under section 287(1) in conjunction with section 288(1), the AIF capital management company managing the relevant AIF presents particulars of the financing of the acquisition to the Federal Institute and to the investors of the AIF.