Mandatory squeeze-out and buy-out of shareholders - 30/11/2012
Mandatory squeeze-out and buy-out of shareholders
On 1st October 2012, the CSSF published its Circular 12/545 on the entry into force of the Law of 21 July 2012 on the mandatory squeeze-out and buy-out of securities of companies admitted or previously admitted to trading on a regulated market or having been subject to a public offering.
The Law of 21 July 2012 lays down provisions on the mandatory squeeze-out and buy-out of shareholders by supplementing the existing, more specific provisions relating to the mandatory squeeze-out and buy-out following a public offering in accordance with the Law of 19 May 2006 on takeover bids, but with a much broader scope of application.
We refer to our communication “Deloitte Regulatory News Alert – Squeeze-out and Buy-out of securities” for more details.
Chapter 15 management companies: Authorisation and organisation
On 24 October 2012, the Commission de Surveillance du Secteur Financier (“CSSF”) published Circular 12/546 on the authorisation and organisation of the Luxembourg management companies subject to Chapter 15 of the Law of 17 December 2010 relating to undertakings for collective investment as well as on investment companies which have not designated a management company within the meaning of Article 27 of the Law of 17 December 2010 relating to undertakings for collective investment. Please refer to our communication “CSSF Circular 12/546 - Key elements and impacts for UCITS management companies and self-managed SICAVs ” of 16 November 2012 for more details.
CSSF Circular on short selling
On 31 October 2012, the CSSF published Circular 12/548 on the entry into force of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps and details of certain practical aspects of notification, disclosure and exemption procedures and its press release relating to the Short Selling Regulation (EU) 236/2012. Please refer to our communication “Short Selling Regulation - New CSSF Circular 12/548 published ” of 14 November 2012 for more details.
Discover the other topics of this newsletter in the attached PDF.
Page Last Updated