Passed by: Rajya Sabha

Purpose:
To implement the Cape Town Convention (2001) and its Protocol in India.

Objective:

  • Provide legal recognition to international norms on asset-based financing of aircraft objects in India.

Cape Town Convention, 2001 – Overview

Nature:
An international treaty adopted in Cape Town (2001) under:

  • International Civil Aviation Organisation (ICAO)
  • UNIDROIT (International Institute for the Unification of Private Law)

Applies to:

  • High-value mobile equipment such as:
    • Aircraft
    • Helicopters
    • Aircraft engines

Key Objectives:

  • Enable asset-based financing and leasing
  • Protect interests of lenders and investors
  • Establish an international registry for aircraft objects
  • Standardize legal frameworks across participating countries

Published by Pragyanxetu

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