Luxembourg extends measures allowing nonphysical meetings to be held until 31 December 2020


Luxembourg extends measures allowing nonphysical meetings to be held until 31 December 2020

25 September 2020

Regulatory News Alert

Context and objectives

On 23 September 2020, the Luxembourg government published a press release on extending the measures that allow companies and legal persons to hold their general meetings and other essential meetings remotely, as the COVID-19 pandemic continues to affect the good governance of companies and other legal persons.

This measure concerning meetings for companies and other legal persons was initially provided for by the Grand-Ducal Regulation of 20 March 2020. Then, the Law of 20 June 2020 extended these measures.

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As the measures of the Law of 20 June 2020 will expire on 30 September 2020, the Luxembourg government is proposing that meetings of decision-making bodies of companies and other legal persons can be held remotely until 31 December 2020.

However, the deadline for filing annual accounts closed on 31 December 2019 with the trade register—as set by the Law of 22 May 2020 extending the deadlines for filing and publishing annual accounts, consolidated accounts and related reports during the state of crisis—has remained unchanged. These filings must be made before 31 October 2020.

What is in it for my institution?

This proposal is designed to help companies manage their corporate governance during the current crisis.

This rule is particularly important for any issuers of financial instruments (such as funds and corporates) that must file annual accounts and hold annual general meetings in Luxembourg.

How can Deloitte help?

Deloitte can help you prepare and facilitate the organization of these meetings, design any necessary procedures, and generally help your company become more digital.

Deloitte’s Regulatory Watch Kaleidoscope service helps you stay ahead of the regulatory curve to better manage and plan upcoming regulations.


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Laurent Berliner
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