Luxembourg newsflash — major changes in securities legislation
The law of 6 April 2013 introduces substantial changes to Luxembourg’s securities legislation. The law now allows the issuing of securities in dematerialised form whereas previously only the issuing of registered and bearer securities had been possible. The new law also modernises current legislation on book-entry securities in particular drawing inspiration from the work carried out by Unidroit in the context of the Geneva Securities Convention of October 2009 and by the Legal Certainty Group set up by the European Commission.
Pursuant to the law of 6 April 2013, Luxembourg companies and investment funds are now authorised to issue dematerialised shares or units. Bonds subject to Luxembourg law may also be issued in dematerialised form.
Issuers therefore now have three options with regard to the form of the securities they may issue. In this respect they may issue registered and bearer securities (in both individual and global form) and now also dematerialised securities…
If you are registered and logged in to the site, click on the link below to read the rest of the Arendt & Medernach briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Arendt & Medernach
Briefings from Arendt & Medernach
The CSSF has issued a new Circular 15/601 relating to the ratio increase notification procedure laid down in Article 94(1)(g)(ii) of Directive 2013/36/EU (CRD IV).
The Luxembourg tax authorities have issued Circular Letter L.I.R. n° 14/4 with respect to the taxation of income realised by a Luxembourg common limited partnership or a special limited partnership.