Clifford Chance
Bill 6318 amending the Law of 13 February 2007 on Specialised Investment Funds
1 September 2011
Bill N° 6318, which proposes amendments to the law of 13 February 2007 on specialised investment funds (SIF Law), was adopted by the Luxembourg Government Council on 1 July 2011 and laid before the Luxembourg Parliament on 12 August 2011.
Clifford Chance has prepared a briefing paper which provides a short overview of the main amendments to the SIF Law put forward by the Bill.
Please note that the amended law shall come into force on the first day of the month following its publication in the Mémorial.
Regarding SIFs existing at the time of the entry into force of the amended law, the Bill sets forth the following transitional provisions in relation to:
• procedures ensuring that its investors are well-informed investors (by 30 June 2012);
• the required risk management systems and arrangements to avoid conflicts of interest (by 30 June 2012); and
• applicable conditions to delegation (by 30 June 2013).
