Luxembourg - reforming the law on commercial companies

Please be informed that a law has been passed in Luxembourg reforming the law of 10 August 1915 on commercial companies. The reform entered into force on 23 August 2016. The reform introduces certain changes with respect to commercial companies governed by Luxembourg law.

A 24 month period, starting on 23 August 2016, is provided to allow Luxembourg companies to amend their articles of incorporation to ensure compliance with the law as reformed. If there are any provisions in the articles of incorporation (Articles) which are not in compliance with the law as reformed after this 24 month period, such provisions will be deemed non-existent. The reformed law also introduces certain concepts which were not previously envisaged or possible for Luxembourg companies.