Facts
The case concerns the question of whether cantonal law can reserve the registration of a bearer bond with the land registry office solely to the cantonal notary public. The appellant takes the view that Art. 963 para. 1 CC gives it the right to register a bearer bond for entry in the land register itself, so that its registration should have been accepted.
The Basel-Stadt Land Registry Office rejected the registration by company F. AG. The appeals filed against this were unsuccessful. The Federal Supreme Court partially upholds the administrative court appeal against the final cantonal judgment.
Considerations
The Federal Supreme Court states that the requirements under which owner's or bearer bonds and owner's or bearer debentures are entered in the land register are conclusively regulated by the Civil Code. The Federal Council cannot authorize the cantonal legislature to prescribe public certification for their creation, nor grant it the authority to reserve their registration for entry in the land register exclusively to the cantonal notary public.
The Federal Supreme Court notes that according to Art. 963 para. 1 CC, entries are made on the basis of a written declaration by the owner of the property. A reservation in favor of the cantonal legislature to prescribe a form of statutory representation of the entitled owner by the notary…