Simplified Faster Legal Publication Regime In Luxembourg
The new simplified regime regarding legal publication relating to companies and associations has been implemented in Luxembourg on June 1, following approval of the legislation by the Chamber of Deputies on May 10. The legislation, which was published in Luxembourg's Official Journal on May 30 as the Law of May 27, 2016, is complemented by a circular issued by the Luxembourg Trade and Companies Register on March 24 (Circular RCSL 16/01).
The main practical implications of the new legislation involve the replacement of the Mémorial C, the requirement for registration of FCPs, and penalties for late filing.
RESA replaces Mémorial C, Recueil des Sociétés et Associations
The new legal framework establishes a central electronic platform for official publication required for regarding companies and associations, the Recueil Electronique des Sociétés et Associations or RESA, which can be accessed via the website of the Trade and Companies Register (Registre de Commerce et des Sociétés - RCS).
The electronic platform replaces the Mémorial C, the former official journal, moving the filing and publication of documents online and ensuring a faster and more efficient update of information and registration of documents. The RCS website provides access to the Mémorial C archives.
As a general rule, documents are published in RESA automatically and with immediate effect upon their submission. For example, to notify the appointment of a new board member, it will be sufficient to complete a form on the RCS platform, and publication in RESA will take place automatically without the need to file any further documents.
The system allows the person filing documents on behalf of the company or association to choose a date of publication subsequent to the filing, no later than 15 days from the date of submission of the documents to RCS.
RESA provides an online journal of...
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