André Bauler, member of the Luxembourg parliament for the Democratic Party, on Friday was appointed by the parliament’s finance and budget committee to coordinate the different political positions for the upcoming discussions on a proposal to update the grand duchy’s investment fund laws.
The proposed legislation, known as Bill 8183, includes plans to improve the various structuring options for investment funds, to bring Luxembourg’s definition of ‹informed investors› into line with the rest of Europe, and to make European Long Term Investment Funds, known as ELTIFs, exempt from registration tax.
The proposal to refresh investment fund laws was brought forward by Luxembourg’s finance minister Yuriko Backes at the of March and was first discussed in the parliament’s finance committee on Friday. After debates in the committee the proposal will be put forward to the plenary, which is expected to vote on the proposal at some stage during the coming months.
Bauler, a liberal democrat, also served as rapporteur last year on Luxembourg’s legislation to modernisation of its securitisation law that enabled fund managers to actively manage pooled debts such as corporate loans and mortgages.