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ARTICLE · 09 MAY 2013

New Law On Dematerialised

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Luxembourg has recently enacted a new law concerning dematerialised securities and amending a number of existing Luxembourg laws.

LuxembourgCorporate/Commercial Law
Laurent Lazard
Laurent Lazard
Nuala Doyle
Nuala Doyle

On 6 April 2013 Luxembourg enacted a new law concerning dematerialised securities and amending a number of existing Luxembourg laws (the "New Law"). The New Law was published in the Mémorial A (the Luxembourg Official Gazette) N° 71 on 15 April 2013.

With the coming into force of this New Law, Luxembourg companies will now have the option of issuing debt or equity securities in dematerialised form while foreign companies will have the same option, but only for debt securities which are governed by Luxembourg law. The possibility to issue debt and equity securities in bearer and registered form remains. Unlike similar legislation in other jurisdictions, the New Law is not drafted so as to result in the eventual abolition of bearer securities.

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