Luxembourg FAQ On The Immobilisation Of Bearer Shares And Units

On February 5, 2016, the Luxembourg Caisse de Consignation has released a series of frequently asked questions summarising the key aspects related to the Luxembourg law of 28 July 2014 regarding immobilisation of bearer shares and units (the "2014 Law").

The FAQ provides useful information with regard to the scope of the 2014 Law and the obligations for companies that issued bearer shares before and after the entry into force of the 2014 Law.

Further on, the paper covers inter alia (i) the method to calculate the price of the shares when cancelling non-immobilised bearer shares, (ii) the procedure for the reduction of capital, (iii) the required documents to be submitted when depositing the assets with the Caisse de Consignation, (iv) applicable fees, and finally (iv) the list of documents that must be presented to the Caisse de consignation by the holder of a certificate representing the bearer share(s) cancelled in order to receive the price corresponding to the capital reduction.

The Luxembourg Bankers' Association...