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!
Why register to The Lawyer
More relevant to you
News from Arendt & Medernach
Briefings from Arendt & Medernach
Luxembourg opens the door to China with approval of R-QFII UCITS funds.
Luxembourg, EU and international developments in tax regulation, including the double tax treaty network.