International Interests in Mobile Equipment (Cape Town Convention) Bill 2005

Public bill · Government · Presented

Ireland would ratify the Cape Town Convention and give it legal effect, creating clearer international rules for loans and leases secured against aircraft, helicopters and aircraft engines. Registered financial interests would be recorded in an international online register, helping lenders recover aircraft if borrowers default and potentially lowering airlines’ finance costs; the High Court would handle related cases. The measure would also allow the State to invest up to €40,000 in Aviareto, the Irish-linked company chosen to operate the register, supporting Ireland’s aviation-finance sector.

Formal long title

Bill entitled an Act to give effect to the Convention on International Interests in Mobile Equipment, and to the protocol to that convention on matters specific to aircraft equipment, opened for signature at Cape Town on 16 November 2001; to provide for related matters; and to amend the Air Navigation and Transport (International Conventions) Act 2004

Last updated 11 September 2018