CSSF Communiqué on the publication of Q&A CNC 25/036 – Interpretation of Article 1711-8(3), point (3)°, of the Law of 10 August 1915 on commercial companies in the specific case of companies operating in the alternative investment sector

The CSSF wishes to draw attention to the publication by the Commission des normes comptables (CNC) (Accounting Standards Commission) of Questions/Answers CNC 25/036 (Q&A CNC 25/036) entitled Interpretation of Article 1711-8(3), point (3), of the Law of 10 August 1915 on commercial companies in the specific case of companies operating in the alternative investment sector, which is available online on the Commission des normes comptables’ website under the Actualités (News) section and under the “Publications” section, subsection Doctrine, the purpose of which is to provide recommendations on the interpretation to be given to Article 1711-8(3), point (3), of the Law of 10 August 1915 on commercial companies in the specific case of companies operating in the alternative investment sector. Indeed, in order to validly invoke the exclusion from the scope of consolidation referred to in Article 1711-8(3), point (3), of the Law of 10 August 1915 on commercial companies and thus be exempt from the obligation to draw up and publish consolidated accounts and a consolidated management report as referred to in Article 1711-9, point (2), of this law, companies operating in the alternative investment sector must fulfil a range of conditions.

CNC Notice 09/002 of 18 December 2009 on the implementation of Article 317(3)(c) of the Law of 10 August 1915 on commercial companies (since renumbered as Article 1711-8(3), point (3)), is therefore withdrawn.