July 2008 - On July 4, 2008, the German Federal Council has ratified the Risk Limitation Act (Risikobegrenzungsgesetz) and Act on the Modernization of Framework Conditions for Venture Capital and Equity Investments (Gesetz zur Modernisierung der Rahmenbedingungen für Kapitalbeteiligungen). Below, we have outlined the impacts of these new legal regimes on voting rights transparency and takeover control thresholds, the resale of loans and Germany’s venture capital industry.