LUXEMBOURG--(BUSINESS WIRE)--The Luxembourg Parliament adopted the draft law on the exploration and use of space resources. The Grand Duchy is thus the first European country to offer a legal framework ensuring that private operators can be confident about their rights on resources they extract in space. The law will come into force on August 1, 2017. Its first article provides that space resources are capable of being owned. The country’s law also establishes the procedures for authorizing and supervising space exploration missions.
Ministry of the Economy, Luxembourg
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