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Reminder on the Luxembourg regime on the immobilization of bearer shares

Luxembourg adopted on 28 July 2014 a law in relation to the immobilization of bearer shares and their holding through a depositary (the “2014 Law”) in response to recommendations by the Financial Action Task Force and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The spirit of the 2014 Law is to make more transparent the detention of bearer shares by requiring their custody from an authorized institution established in Luxembourg.

 

The content of the law deals with:

-   The entities concerned

-   The obligations of the conducting organs of the entities concerned

-  The obligations of the depositary

-  The content of the register

-  The sanctions

 

 

TIMELINE OF OPERATIONS FOR ENTITIES CONCERNED:

 

 

Date of entry into force: 

18 August 2014

Last date to appoint a depositary: 

18 February 2015

Date of suspension of voting rights failing deposit: 

18 February 2015

Last date of possible deposit: 

18 February 2016

Beginning of cancellation procedures:

 18 February 2016

 

 

More information 

 


 

HERBERGEMENT WEB AU LUXEMBOURG