The immobilisation of bearer shares in Luxembourg

On 16 July 2014, the Luxembourg Chamber of Deputies passed Bill n°6625 (the "Immobilisation Law"), further to which the notion of immobilisation of bearer shares was introduced, pursuant to which bearer shares will have to be put in the hands of a depositary and information concerning their holder contained in a specific registry. Immobilisation duty concerns all bearer shares issued before and after the entry into force of the Immobilisation Law. Bearer shares' legal nature does not change as the Immobilisation Law does not create a new class of shares, but merely provides for a new practical modality. Read more