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
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
35A Boulevard Joseph II
— 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.
- EUR 15 per security
- Minimum EUR 300
- Maximum EUR 500
The fee has to be paid before the publication of the stop.
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
- 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.
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
Receive information of published stops
- Daily publications – online access
Annual subscription fee: EUR 2,500 (excl. VAT)
- Periodical reports – online access
— 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
Annual subscription: EUR 6,000 EUR (excl. VAT)
Law of 3 September 1996 concerning the involuntary dispossession of bearer securities and amended from time to time.