Any person (individual or legal entity) who has been involuntary deprived of a Luxembourg or foreign bearer security may request to place a stop on it. This will protect his/her rights over the security and its countervalue.
For each request for a stop you need to fill in and file a separate application form.
Declaration made directly at the registering institution.
For receiving stop notification declaration our office is open on the Luxembourg Stock Exchange working days:
Monday to Friday
9:00 – 12:00 am
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.
A stop ends when the opponent regains possession of the security on which he has placed a 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 registering institution.
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 his/her/its name or on his/her/its securities account.
Information about 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 available in a form of a structured file accessible from an FTP server with enabled data download.
Ministerial order of 1 December 2008 determining the fee schedule for stop applications placed in connection with the involuntary dispossession of bearer securities.