On 6 March 2012, the Luxembourg Parliament (Chambre des Députés, hereafter the Parliament) passed the bill of law n° 6318 relating to the amendment of the law dated 13 February 2007 on specialized investment funds (hereafter the Law). The Parliament also resolved to request the Law to be exempted by the Conseil d’Etat from the second vote.
As it is foreseen that the exemption will be granted within a couple of weeks, the Law should be promulgated by the end of this month and, in accordance with article 18 of the Law, be in force the first day of the month following its publication in the Luxembourg official gazette (i.e. the first day of April at the earliest or the first day of May at the latest).
As from this date, the new features implemented by the Law will become effective. These new features have been summarized in our September 2011’s newsletter.