26/06/20

Luxembourg law extending measures relating to the holding of meetings of companies and other legal entities adopted

On 25 June 2020, the law extending crisis measures relating to the holding of meetings of companies and other legal entities after the end of the state of crisis was published in the Luxembourg official gazette (Memorial A) and therefore entered into force as from this date.

As a result, the following rules are now applicable:

general meetings and other meetings of corporate bodies of entities having a financial year ending before the end of the state of crisis (i.e. 24 June 2020 - midnight) can be held without requiring the physical presence of members if they are held within nine months after the end of their financial year, notwithstanding any provision to the contrary in their bylaws;

general meetings and other meetings of corporate bodies of entities having a financial year ending after the end of the state of crisis (e.g. 30 June 2020) do not fall within the scope of the law so that meetings must be held in accordance with the existing provisions of the Law of 10 August 1915 and their bylaws.

Please refer to our Alert dated 9 June 2020 "COVID-19: The end of Luxembourg state of crisis – Corporate implications on corporate decisions" for further information.

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