Railway undertakings may use capital raising to purchase new rolling stock. The Cape Town Convention of 2001, together with the associated Luxembourg Protocol of 2006, govern international interests in rolling stock and the establishment of an international rolling stock register.
March 1, 2006
Cape Town Convention on International Interests in Mobile Equipment
The convention was concluded at a diplomatic conference held in Cape Town in November 2001. The convention provides for an international legal regime for the creation, perfection and priority of security, title retention and leasing interests in aircraft equipment, railway rolling stock and space assets.
Applicable with effect from 1 March 2006
Feb. 23, 2007
Luxembourg Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Railway Rolling Stock
The Luxembourg Protocol to the Convention provides for the application of the convention to railway rolling stock. It establishes an international registry to record leasing interests, with a view to reducing the risks and costs involved in financing high-value mobile equipment. The protocol was signed in Luxembourg in 2007 but has not yet entered into force.
Date of signature 23 February 2007