Luxembourg Law Transposing the AIFMD Passed by Luxembourg Parliament

The Luxembourg Parliament adopted bill 6471 on alternative investment fund managers and transposing the AIFMD into Luxembourg law (the “AIFM Law”) in its first constitutional vote on 10 July 2013. The AIFM Law will become effective on its day of publication in the Luxembourg official gazette which will take place in the coming days but in any case before 22 July 2013 to meet the deadline set under the AIFMD.

The AIFMD Law can be split into two parts:

- Chapters 1 to 11 establish the legal regime for a Luxembourg alternative investment fund manager or “AIFM” and conditions to be fulfilled when managing and marketing alternative investment funds or “AIFs” in Luxembourg.

- Chapter 12 amends several existing Luxembourg laws by adjusting and enhancing the different legal regimes to which a Luxembourg AIF may be subject, including:

- Laws regulating Luxembourg fund vehicles, namely the law of 17 December 2010 on undertakings for collective investment, as amended (the “UCI Law”), the law of 13 February 2007 on specialised investment funds, as amended (the “SIF Law”) and the law of 15 June 2004 on investment companies in risk capital, as amended (the “SICAR Law”);

- The law of 5 April 1993 on the financial sector act, as amended (the “Financial Sector Law”), creating a new depositary license;

- The law of 10 August 1915 on commercial companies, as amended (the “Companies Act”), overhauling the limited partnership regime in Luxembourg corporate law; and

- The law of 4 December 1967 on income tax, as amended (the “Income Tax Law”).

Please see full summary below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Dechert LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×