Luxembourg Newsflash – Major changes in Luxembourg securities legislation – 15 April 2013
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The law of 6 April 2013 introduces substantial changes to Luxembourg’s securities legislation.
The law now allows the issuing of securities in dematerialised form whereas previously only the issuing of registered and bearer securities had been possible. The new law also modernises current legislation on book-entry securities in particular drawing inspiration from the work carried out by Unidroit in the context of the Geneva Securities Convention of October 2009 and by the Legal Certainty Group set up by the European Commission.
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