In addition to the Act of 21 March 2003 on nuclear energy (LENu) ¹ And the OFDG, this Regulation lays down the organisation and operation of the funds, the principles and purposes of the investment of assets and the framework for these investments.

¹ The decommissioning fund and the management fund have a common organisation.

² The bodies referred to in Art. 20, para. 1, OFDG carries out their duties with the same staff for both funds.

¹ The members of the committee must offer the guarantee of an irreproachable activity. They have the specific skills required to carry out their tasks.

² For the representation of the sexes and linguistic communities, art. 8 C , para. 1, and 8 C ^Bis , para. 1, of the Order of 25 November 1998 on the Organisation of Government and Administration (OLOGA) ¹ Apply by analogy. Exceptionally, these requirements may be waived for reasons of qualification.

³ The members of the commission who represent the owners of a nuclear facility required to make contributions must be members of the management of the business owner or persons directly subordinate to management That have a complete overview of the business of the owner.

⁴ At the beginning of their term of office and in the event of changes, the members of the committee shall declare their interest. These links are reviewed annually and published electronically.

¹ The independent members propose to the commission a person from their ranks to assume the presidency. The Federal Energy Board (OFEN) proposes to the Commission, after agreement with the Presidency, the other independent members.

² The owners' representatives propose to the committee a person from their ranks to assume the vice-presidency. The owners propose to the Commission the other persons responsible for representing them.

³ The Commission proposes to the DETEC, to the attention of the Federal Council, the candidates for the Presidency and the Vice-Presidency, as well as the other candidates for a seat on the committee. The Federal Department of Finance is proposing to the Federal Council an employee of the Federal Finance Administration (AFF) as a member.

In addition to the tasks referred to in s. 23 OFDG, the committee includes the following tasks:

A.

Defining the procedure for selecting members of the investment committee and the committee in charge of costs;

B.

It proposes to the DETEC:

1.

The competence profile of the members of the committee, the chairs of the investment committee and the committee responsible for costs, as well as the members of the committees,

2.

The degree of occupation of committee members and committees;

3.

As far as it deems necessary, the amount of remuneration of the independent members of the committee and of the committees;

C.

It fixes the remuneration of the specialists to whom it is called;

D.

It enacts the required directives, including:

1.

The Directive on the exercise of the voting rights of shareholders of funds at the general meeting of public limited-liability companies,

2.

The Directive on compensation for costs;

E.

Approves the investment strategy on the proposal of the Investment Committee;

F.

Verifying compliance with the guidelines, principles and restrictions on placement;

G.

Approves the activity reports of the Investment Committee and the Cost Committee;

H.

Annually submits a risk management report to the OFEN;

I.

It proposes to the DETEC a review society experienced and registered with the Federal Review Authority for review, to the attention of the Federal Council;

J.

It designates the investment control department and establishes the concept of monitoring and reporting for the control of investments;

K.

Approves the annual budget for the administrative costs of the funds;

L.

It sets the payment deadlines for the instalment payments to be paid each year;

M.

It decides on the amount and the date of the refunds defined in Art. 13 A , para. 1 and 2, OFDG;

N.

It enters into contracts for both funds, subject to the expenditure authority referred to in s. 19, para. 1;

O.

It sets out the principles for informing the general public.

¹ The committee of the committee shall consist of:

A.

The chairman of the committee;

B.

The Vice-Chairman of the Committee;

C.

The chairs of the investment committee and the committee responsible for costs;

D.

A member of the commission appointed by the owners.

² The committee chair leads the committee.

³ Other members of the committee may be invited to the meetings of the Committee for the treatment of specific questions.

⁴ The committee of the committee shall sit at least every three months.

⁵ The committee of the committee shall reach a quorum when the majority of its members are present. Decisions shall be taken by a simple majority of the members present. The President shall take part in the vote; in the case of equality of votes, the President shall have the casting vote.

In particular, the committee of the committee has the following tasks:

A.

Manages current affairs on the commission's mandate;

B.

Preparing the decisions of the committee, including:

1.

The proposals of candidates for the committee, the investment committee and the committee responsible for costs,

2.

The proposal to the DETEC concerning the determination of the degree of occupation of committee members and committees,

3.

The proposal to the DETEC concerning the remuneration of the independent members of the committee and the committees;

C.

Providing a quarterly report to the OFEN, in particular concerning current affairs as well as the evolution and the state of fortune;

D.

Responsible for internal and external communication;

E.

Informing the Committee of its activities.

¹ The investment committee consists of 8 to 12 members. A member is appointed by the AFF.

² For the representation of the sexes and linguistic communities, art. 8 C , para. 1, and 8 C ^Bis , para. 1, OLOGA ¹ Apply by analogy. Exceptionally, these requirements may be waived for reasons of qualification.

³ An independent panel member holds the chair of the Investment Committee.

⁴ The members of the Investment Committee have the specific skills required to carry out the work of the Investment Committee. They meet the competency profile established by the DETEC.

⁵ The remuneration of members of the investment committee shall be based on the analogy of art. 21 C , para. 1 and 3, OFDG.

⁶ The Investment Committee shall sit at least four times a year.

⁷ Art. 25 OFDG applies by analogy with regard to quorum and voting.

In particular, the investment committee has the following tasks:

A.

Administering, coordinating and monitoring the management of wealth;

B.

Develops the investment strategy for the Commission and is responsible for its implementation. The investment strategy includes the distribution of funds in the different investment categories. It is set individually for each manager who is required to make contributions or in a consistent manner for all managers who are required to make contributions. It takes into account the risk capacity of managers;

C.

It determines the investment process;

D.

Monitoring, in agreement with the investment control department, the activity of asset managers and compliance with the directives, principles and restrictions on investment;

E.

It monitors and periodically assesses the investment risks to which the funds are exposed;

F.

He supervises the specialists to whom he has appealed and the work entrusted to the office;

G.

Inform the committee of its activities and the implementation of the placement guidelines.

¹ The cost committee consists of 8 to 12 members.

² For the representation of the sexes and linguistic communities, art. 8 C , para. 1, and 8 C ^Bis , para. 1, OLOGA ¹ Apply by analogy. Exceptionally, these requirements may be waived for reasons of qualification.

³ An independent member of the committee holds the chair of the committee responsible for costs.

⁴ The members of the Cost Committee have the specific skills required to carry out the tasks of the Committee in charge of costs. They meet the competency profile established by the DETEC.

⁵ The remuneration of members of the committee in charge of costs shall be based on the analogy of art. 21 C , para. 1 and 3, OFDG.

⁶ The cost committee meets as required.

⁷ Art. 25 OFDG applies by analogy with regard to quorum and voting.

The committee responsible for costs includes the following tasks:

A.

Drawing up the proposal to the Commission for consideration of the requirements for the study on the foreseeable amount of decommissioning and waste management costs of each nuclear facility (cost study);

B.

Monitoring the development of the cost study and coordinating its control over the commission's mandate. To this end, it shall establish a monitoring report;

C.

Preparing to the Commission's attention the proposal to the DETEC for the determination of the foreseeable amount of the decommissioning and waste management costs of each nuclear facility;

D.

On the basis of the actuarial model, it calculates to the Commission the amount of the annual contributions owed by the owners of nuclear installations in accordance with Art. 8 and 8 A OFDG

E.

On the basis of the actuarial model, it shall verify the plan for the establishment of the provisions of the owners for the waste management costs preceding the final decommissioning of the nuclear power plants in accordance with Art. 19 OFDG

F.

It draws to the attention of the Committee any reimbursements;

G.

It controls the decommissioning and waste management costs incurred and monitors the payment by the Office of the funds to the owners;

H.

Informing the Committee of its activities.

The chairmanship of the expert groups and working groups shall be carried out by an independent member of the committee or a committee.

¹ At least one representative of the bureau shall take part in the meetings of the committee and its committees with a consultative vote.

² The management of the office can only be managed by one body:

A.

Having several years of experience in this field of activity or in a comparable field;

B.

Having with the owners of nuclear facilities, the economy of electricity and the services responsible for the administration and the preservation of the wealth of the funds no connection that may seem to involve a bias.

³ The office has the necessary human and technical resources to effectively deal with the affairs of both funds. In particular, it complies with the conditions set out in the Act of 10 October 1997 on money laundering ¹ .

⁴ A backup is provided to perform the tasks of the office.

In particular, the Office has the following tasks:

A.

Dealing with day-to-day matters in accordance with the direction of the committee committee;

B.

Each year it draws up the administrative costs budget to the attention of the committee;

C.

It audits the calculations of the committee in charge of the costs referred to in s. 11, let. D.

¹ If a review body operates both for a nuclear facility owner and for decommissioning and management funds, it is necessary to ensure that the responsible reviewers are different persons. The review body shall confirm in writing that no exchange of written or oral data concerning the revision of the funds and the revision of the owner of the nuclear installation shall take place between the persons participating in the controls.

² The review body confirms the plausibility of the actuarial model on the basis of the results of new cost studies and before the taxation of contributions; it verifies that this model works correctly and that the data of the cost studies are Time.

The Commission shall ensure appropriate risk management and an internal control system. The guidelines of 24 September 2010 on the risk management policy pursued by the Confederation ¹ Are applicable by analogy for risk management.

Communication must be objective, politically neutral, clear and transparent. To this end, it is communicated independently and independently, taking into account the ad hoc advertising requirements of the listed owners.

¹ All persons and institutions involved in the management of capital are subject to a duty of discretion with regard to all the information they are aware of in the course of their activity.

² They cannot accept or obtain personal benefits in connection with the exercise of their activity in relation to the funds. The benefits of low importance, consistent with social practices, are not affected by this provision. Gifts in kind of a market value not exceeding 200 francs are considered to be of low importance.

³ The independent members of the committee, committees and expert groups shall recuse themselves in the event of conflicts of interest in relation to their person, their work or their agents.

⁴ The members of the committee, committees and expert groups representing the interests of the owners shall recuse themselves in the event of conflicts of interest in disputes between the owners represented and the decommissioning fund or Management, or in the case of conflicts of interest in relation to their person.

¹ The following persons and bodies may make financial commitments under the approved budget, up to the following amounts:

A.

Office: up to 20,000 francs per transaction;

B.

The chairman of the investment committee or committee responsible for costs: up to 50,000 francs per transaction;

C.

The President: up to 50,000 francs per operation;

D.

The committee committee: up to 250 000 francs per operation;

E.

The committee: more than 250 000 francs.

² Only the Commission has the authority to make commitments concerning non-budgeted operations.

¹ Individual signatures are not allowed.

² In addition to the regulations set out in Art. 24, para. 1, OFDG, the following entities or persons have the right of signing for the funds:

A.

In the cases referred to in s. 19, let. A: the office with a double signature;

B.

In the cases referred to in s. 19, let. B: the chairman of the investment committee or the committee in charge of costs jointly with a member of the office.

The wealth of the two funds is managed separately.

The capital of the funds must be managed in such a way that it can cover, taking into account the annual contributions, the probable costs of decommissioning and managing each nuclear facility until the final disposal, by holding The parameters of the OFDG Annex 1.

¹ When investing funds, it is appropriate to:

A.

Ensure security, including the solvency of debtors;

B.

Ensure the necessary liquidity;

C.

Allocate risk appropriately with respect to investment categories, regions, economic sectors and debtors (risk allocation);

D.

Obtain appropriate performance.

² In addition to the restrictions under s. 16 OFDG, the following investment restrictions must be taken into account:

A.

Products with an obligation to provide additional payments are not permitted. Are not considered to be products with an obligation to provide supplementary payments for investments such as private equity, which include investments fixed in advance (commitment) and a right of withdrawal within a period of time Defined;

B.

Derivative financial instruments are in principle only permitted when the following cumulative conditions are met:

1.

They have no leverage effect on the overall wealth,

2.

All obligations arising from derivatives transactions are covered,

3.

The liquidity of derivative financial instruments and the solvency of the counterparty are observed;

C.

In the field of alternative investments, derivative financial instruments are allowed without restriction in the case of collective investments of limited liability, in particular for funds or limited partnerships without obligation Provide additional payments;

D.

The lending of securities is governed, by analogy, by s. 76 of the Order of 22 November 2006 on collective investments ¹ And by the order of the FINMA of 27 August 2014 on collective investments ² Moreover, the loan of securities is only allowed:

1.

It is carried out exclusively with guarantees and, in the case of direct investments, and if it is carried out by the depositary bank on the basis of a written contract,

2.

If, in the case of shares of listed Swiss public limited companies, it does not affect the exercise of the rights of shareholders.

Capital management must be organized as an ongoing process.

¹ The investment control department must be an external service provider.

² He must not have any link with the makeshift managers that may seem to involve a bias. In addition to its monitoring activities, it can provide advice to the funds. The business of counselling, however, must not lead to conflicts of interest.

The Investment Control Service carries out the following tasks on the committee's terms of reference:

A.

Monitoring the activity of asset managers and, in agreement with the investment committee, compliance with contractual provisions and placement guidelines, principles and restrictions;

B.

Reviews new contracts with asset managers and changes to those contracts;

C.

Assessing the investment performance of asset managers, in particular on the basis of performance indicators and risk indicators;

D.

It ensures meaningful reporting.

These Regulations come into force on February 15, 2016.