The Law of 1 June 2021, which entered into force on the same
date, introduced a new subparagraph to Article 57 of the Law of 5
April 1993 on the financial sector.
Article 57 provides for an obligation for credit institutions
and professionals of the financial sector to obtain the
authorisation from the Commission de Surveillance du
Secteur Financier (CSSF) before acquiring a qualifying
holding in another company (i.e. holding of more than 10% of the
capital/voting rights).
The new subparagraph introduces an exemption to such
authorisation requirement if the qualifying holding does not exceed
EUR 40 million and 5 per cent of a CRR institution's own
funds. These conditions are cumulative.
