Voir la version française

How to place a stop on a bearer security

If you are an individual or representative of a legal entity that has been involuntarily deprived of a Luxembourg or foreign bearer security and wish to protect your rights over the security and its counter value, you can request to place a stop on the security through the Organisme de centralisation des oppositions sur titres au porteur (Luxembourg Stock Exchange).

Notification of the stop

The dispossessed individual or legal entity – known as the opponent – may notify a stop on a bearer security to the Organisme de centralisation in three ways:

By deed of a bailiff
By sending a registered letter
By filing a declaration made directly on the premises of the Organisme de centralisation

The application form to place a stop on a bearer security can be found below, and must be completed, signed and sent by registered mail to the Organisme de centralisation (Luxembourg Stock Exchange). If all conditions are matched, the Organisme de centralisation will send an invoice for the placing of the stop to the opponent.

For each request to place a stop, you need to fill in and file a separate application form.

— Declaration made directly at the Organisme de centalisation

Our office is open to receive stop notification declarations during the usual business hours of the Luxembourg Stock Exchange:

Monday to Friday
09:00 – 12:00 CET

Address:
35A Boulevard Joseph II
L-1840 Luxembourg

— Non-resident opponents (individuals or legal entities)

If the opponent is not a Luxembourg resident, he or she has to indicate an address in Luxembourg. This can take the form of, for example, a private person’s domicile, a bailiff’s address, a bank’s service authorising the opponent to use the bank as his/her domicile.

Fees:

EUR 15 per security
Minimum EUR 300
Maximum EUR 500

The fee has to be paid before the publication of the stop.

Stop notification application form

Ministerial order of 1 December 2008 (French version)

Publication of the stop

Once the invoice stating the fee for placing the stop has been paid by the opponent, the stop is published on the website of the Luxembourg Stock Exchange (paying access).

The Organisme de centralisation will then inform the issuer of the security as well as the paying agent in Luxembourg of the stop in place.

Termination of a stop / Forfeiture

Lift-out

When the opponent regains possession of the security on which he/she has placed a stop, he should apply to the Organisme de centralisation to terminate the stop. To do so, the opponent must fill in and sign the application form to terminate a stop and send it by registered mail to the Organisme de centralisation.

Ex-officio lifting

There should be no effect of a stop after:

a) Registration of a security in a securities account in Luxembourg; or

b) Sale of the security by the issuer or cancellation of the security in accordance with the law on dematerialised securities.

The liquidation body, the (central) account keeper or the issuer may request the registering institution to lift such a stop by confirming in writing the date of the occurrence of one of the events mentioned above.

Forfeiture

If there was no application for the termination of a stop, a security on the list of stopped securities will be automatically forfeited after four calendar years. The four years are counted from the beginning of the calendar year following the year in which the publication of the stop took place.

As a result of the forfeiture, the applicant becomes entitled to either:

1. Exercise the rights attached to the security upon registration of the security in their name or on their securities account

2. Receive the counter value of the security

Terminate a stop (French version)

Ex-officio lifting of a stop (French version)

Receive information of published stops

Information on stops on bearer securities is a paid service available via our website.

Daily publications – online access

Available information: placed stops, terminated stops, ex-officio lifting of stops. The service covers information archived during the past six months.

Annual subscription fee: EUR 2,500 (excl. VAT)

Periodical reports – online access

The service grants access to the following lists:

— Lists of securities affected by a stop on 30 June

— Lists of securities affected by a stop on 31 December

— Lists of securities becoming of no value on the upcoming 31 December

— Lists of securities that became of no value on 31 December of the preceding year

— Lists of securities forfeited on 1 January

Annual subscription fee: EUR 500 (excl. VAT)

Automated dissemination product

Daily publications of information on placed stops, terminated stops and ex-officio lifting of stops are available in a form of a structured file accessible from an FTP server with enabled data download.

Annual subscription: EUR 6,000 EUR (excl. VAT)

Subscription form (French version)

Applicable regulation

Law of 3 September 1996 concerning the involuntary dispossession of bearer securities and amended from time to time.

Law of 3 September 1996 (French version)

Ministerial order of 1 December 2008 determining the fee schedule for stop applications placed in connection with the involuntary dispossession of bearer securities.

Ministerial order of 1 December 2008 (French version)

Always in motion