The International Institute for the Unification of Private Law (UNIDROIT) and the Intergovernmental Organisation for International Carriage by Rail (OTIF) are pleased to announce the Canadian listed company, Information Services Corporation (ISC), through a wholly-owned subsidiary, has become the new owner of Regulis S.A., the Registrar designate for the Luxembourg Rail Protocol.
This change of ownership follows the successful outcome of the 11th session of the Preparatory Commission for the Establishment of the International Registry for railway rolling stock under the Luxembourg (Rail) Protocol, which approved the change of control from the International Communications and Technology Group SITA (SITA BV) to ISC on 29 November 2022 in Rome.
Secretary-GeneraI Ignacio Tirado (UNIDROIT) and Secretary General Wolfgang Küpper (OTIF) both welcomed the decision of the Preparatory Commission with their respective statements:
“UNIDROIT is satisfied with the positive outcome of the procedure of change of ownership in the Registrar-designate, which has provided a very good solution to ensure the successful and timely entry into force of the Protocol after a long wait”, said UNIDROIT Secretary-General Ignacio Tirado, adding words of appreciation for all those who had participated in the negotiations.
“With its strong documented financial position and extensive experience in establishing, operating and enhancing registry systems, ISC fully meets the expectations in regard to the operation of the International Registry”, commented OTIF Secretary General Wolfgang Küpper.
The amended and restated agreements for the implementation of the Registry were signed by the Preparatory Commission and ISC representatives on 21 December 2022.