No financial assistance criminal offence for S.à r.ls

The Law of 6 August 2021 ("Law"), which entered into force on 16 August 2021, removes uncertainty as to the non-application of a specific criminal law provision of the Luxembourg law of 10 August 1915 on commercial companies to financial assistance for S.à r.ls on the grounds that for this type of company, where shares (parts sociales) are not freely transferable, a more flexible regime should apply.

For more information on the rationale and impact of the change, please read  here.