Facts
Interfer AG, domiciled in Zurich, was registered in the Commercial Register on October 27, 1961 and established and managed the Interfer International Holiday Home Investment Fund. On January 19, 1966, Interfer AG decided to liquidate the fund. On November 8, 1967, an extraordinary general meeting of Interfer AG resolved to change the company name to Interfer Verwaltungsaktiengesellschaft and to transfer the company's domicile from Zurich to Vaduz (Principality of Liechtenstein).
By orders dated November 23, 1967, the Swiss Federal Banking Commission obliged Interfer AG Zurich to deposit securities for the investors' claims and revoked its authorization to manage the investment fund. Interfer Verwaltungsaktiengesellschaft Vaduz filed an administrative court appeal against these orders.
Considerations
The Federal Court dismissed the appeals. It found that the Interfer investment fund was subject to the Federal Act on Investment Funds (AFG) as long as the fund management had its registered office in Switzerland. A corporation that was previously subject to the AFG as a fund management company with a domestic registered office remains subject to this Act even after transferring its registered office abroad, as long as it has not been deleted from the Swiss Commercial Register due to the failure to fulfill the conditions of Art. 51 of the Commercial Register Ordinance.
Since Interfer…