No financial assistance criminal offence for S.à r.ls
Posted - 31.03.2021
The 2016 revision of the Luxembourg law of 10 August 1915 on commercial companies had introduced a clerical error in a criminal law provision relating to the prohibition of unlawful financial assistance. The error raised discussions among practitioners on whether or not the financial assistance prohibition would apply to S.à r.ls. The Luxembourg Government now rectifies this error through a new bill of law (no 7791), submitted to Parliament on 16 March 2021.
Read more on the new bill of law in our Newsflash.