The Law of 28 July 2014 concerning the compulsory deposit and immobilisation of shares and units in bearer form (the "Law") was published in the Mémorial (the Luxembourg Official Gazette) on 14 August 2014. The Law entered into force on 18 August 2014.
The Law follows the recommendations of the Financial Action Task Force and the Global Forum on Transparency and Exchange of Information for Tax Purposes relating to the identification of holders of bearer shares and bearer units and adopts the compulsory deposit and immobilisation of shares and units in bearer form with a depositary allowing identification of the holders thereof.
For more details on this subject, please see our Newsflash of August 2014.
