The Cape Town Convention
The 2001 Convention on International Interests in Mobile Equipment and the associated Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment (together known as the ‘Cape Town Convention’) facilitate the financing of aircraft by:
- providing creditors with an internationally recognised set of rights in the event of a debtor’s default or insolvency; and
- allowing creditors to register their interests in an international register to guarantee the priority of their claim against other parties.
The Cape Town Convention instruments can be found on the UNIDROIT website.
On 12 October 2012, the Minister for Infrastructure and Transport announced that Australia will accede to the Cape Town Convention. The treaty; Regulatory Impact Statement and National Interest Analysis were subsequently tabled in Parliament on 1 November 2012.
The Department will continue to work with the Attorney General’s Department and the Department of Foreign Affairs and Trade to bring the treaty into domestic law in 2014.
2010 Cape Town Consultation Paper
Following formal stakeholder consultations about the merits of accession to the Cape Town Convention in 2008, the Department of Infrastructure and Transport (the Department) released the 2010 Cape Town Convention Consultation Paper (Consultation Paper)[PDF: 57 KB]  on 22 November 2010, inviting stakeholders to comment on a number of Convention issues that have yet to be explored with industry.
The consultation period has now closed.