Technical Workshop on the “Luxembourg Rail Protocol’’
The Board of Investment, in collaboration with The Financial Services Promotion Agency (FSPA), ENS Africa and selected partners, organized a Technical Workshop on the “Luxembourg Rail Protocol” on Tuesday 7th March 2017 at the Board of Investment.
The Luxembourg Rail Protocol derived from the Cape Town Convention on International Interests in Mobile Equipment aims at standardizing transactions relating to movable property. The Protocol recognizes the priority of securing and protecting railway rolling stock investors.
Mr. Howard Rosen, Chairman of the Rail Working Group (a not-for-profit organization) and representative of the global railway community currently on a P.R. tour for the adoption of the Protocol, made a presentation on the Protocol’s relevance to Mauritius. Mr. Howard Rosen provided an overview and current status of the Luxembourg Protocol.
Discussions centered around the importance of the Protocol for Mauritius, the possibility of financing Africa’s railway from Mauritius and its legal implications, the adoption of the Cape Town Convention and Luxembourg Protocol, the practical and operational aspects of The International Rail Registry based in Luxembourg as well as tax issues relating to the leasing of rolling stock into Africa from a Mauritius base.
08 March 2017