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We’ve published draft regulations and guidance for business, setting out how we’ll implement the Cape Town Treaty.
Our technical consultation runs until 15 March 2015. We want to know your views on the practical effect of the draft regulations, and if they implement the provisions of the treaty. We’d also like to know your views on the content of the draft guidance.
We want to know stakeholders views on how the UK should implement the ‘Convention on International Interests in Mobile Equipment’, and the ‘Protocol on Matters Specific to Aircraft Equipment’ to achieve the greatest economic benefit for the UK.
The ‘Cape Town Convention on International Interests in Mobile Equipment’, or ‘Cape Town Treaty’ is an international treaty that aims to help asset-based aircraft finance transactions by creating an international harmonised system to administer the registration of international interests (like mortgages and leases) in helicopters, aircraft frames and aircraft engines over a certain size. It also provides a process for how disputes under the treaty are managed.
This consultation is relevant to:
- helicopter, airframe and aircraft engine manufacturers
- banks and financiers involved in aircraft finance
- aircraft leasing companies
- insolvency practitioners
- legal firms involved in aircraft finance transactions