Upgrade of Luxembourg Investment Fund Toolbox

On 24 July 2023, the Law of 21 July 2023 improving and modernising the Luxembourg toolbox relating to investment funds was published in the Mémorial A and entered into force on 28 July 2023 (“Law”). The Law amends the following Luxembourg laws, up-to-date bilingual versions (FR/EN) of which are available on our website:

• Law of 15 June 2004 on the investment company in risk capital (“SICAR Law“),
• Law of 13 February 2007 on specialised investment funds (“SIF Law“),
• Law of 17 December 2010 on undertakings for collective investment (“UCI Law“),
• Law of 12 July 2013 on alternative investment fund managers (“AIFM Law“), and
• Law of 23 July 2016 on reserved alternative investment funds (“RAIF Law“).

For details on the changes introduced by the Law, please refer to the newsflash published on our website following the deposit of the corresponding bill.

In addition, LBR Circular 16/02 of the Luxembourg Business Registers (“LBR”) was also updated on 23 August 2023 to take into account the amendments to Article 34 of the RAIF Law and particularly the introduction of the obligation to notify the LBR within twenty business days after implementing a change in any of the information communicated for the inscription on the RAIF list.