Monday September 29 2014

News Source: Global Exchanges

Focus: Trading Rules

Type: General




The Luxembourg Parliament has adopted Bill No. 6625 regarding the transferability of shares and bearer shares and the holding of the share register and the register of bearer shares.

The Law stipulates that the board of directors/managers of Luxembourg public limited liability companies and partnerships limited by shares are now responsible for appointing a depositary who will be in charge of keeping the bearer shares.

Luxembourg companies falling within the scope of the Law shall appoint a depositary within the six months following the entry into force of the Law. Existing bearer shares shall have to be deposited within the 18 months following the entry into force of the Law.

Following this 18-month period, shares will be suspended.

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