{"id":331775,"date":"2025-04-04T17:07:55","date_gmt":"2025-04-04T11:37:55","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=331775"},"modified":"2025-04-05T09:15:57","modified_gmt":"2025-04-05T03:45:57","slug":"cape-town-convention-2001","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cape-town-convention-2001\/","title":{"rendered":"Cape Town Convention, 2001"},"content":{"rendered":"<p><strong>News:<\/strong> The Rajya Sabha passed the <strong>Protection of Interests in Aircraft Objects Bill, 2025. <\/strong>The Bill seeks to give legal effect to the <strong>Convention on International Interests in Mobile Equipment (also known as Cape Town Convention of 2001) <\/strong>and <strong>Protocol<\/strong> to<strong> this Convention<\/strong> in their application to India.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-331868 aligncenter\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?resize=568%2C377&#038;ssl=1\" alt=\"Cape Town Convention, 2001\" width=\"568\" height=\"377\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?resize=300%2C199&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?resize=1024%2C680&amp;ssl=1 1024w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?resize=768%2C510&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?w=1280&amp;ssl=1 1280w\" sizes=\"auto, (max-width: 568px) 100vw, 568px\" \/><\/p>\n<h2>About Cape Town Convention, 2001<\/h2>\n<ul>\n<li>It is an <strong>international treaty<\/strong> that aims to facilitate asset-based <strong>financing and leasing<\/strong> of high-value mobile equipment like aircraft, helicopters, and aircraft engines by providing <strong>a uniform legal framework<\/strong> and international registration system.<\/li>\n<li>It was <strong>adopted<\/strong> at a conference in <strong>Cape Town<\/strong> in <strong>November 2001<\/strong> under the <strong>International Civil Aviation Organisation (ICAO)<\/strong> and the <strong>International Institute for the Unification of Private Law (UNIDROIT).<\/strong><\/li>\n<li><strong>Objectives: <\/strong>\n<ul>\n<li>Facilitate asset-based Financing<\/li>\n<li>Protect lenders and investors<\/li>\n<li>Create an international registry<\/li>\n<li>Standardize legal framework across countries<\/li>\n<\/ul>\n<\/li>\n<li><strong>India\u2019s status:<\/strong> India is <strong>a signatory to the convention (in 2008)<\/strong>, but the Indian <strong>Parliament<\/strong> has <strong>not ratified the same<\/strong>. Once the legislation is enacted, the Convention will get legal backing in India and ensure <strong>compliance with the international norms <\/strong>related to leasing of aircraft.<\/li>\n<\/ul>\n<h2>About Protection of Interests in Aircraft Objects Bill, 2025<\/h2>\n<ul>\n<li><strong>Key Provisions of the Bill:<\/strong>\n<ul>\n<li><strong>Legal compliance: <\/strong>It empowers the central government to <strong>make rules to implement<\/strong> the provisions of the Convention and the Protocol.<\/li>\n<li><strong>Creditor remedies:<\/strong> In case of default, allows creditors or lessors to reclaim possession of aircraft <strong>within two months<\/strong> or a mutually agreed period.<\/li>\n<li><strong>Domestic registry: <\/strong>It designates the <strong>Directorate General of Civil Aviation<\/strong> as the registry authority for the convention.<\/li>\n<li><strong>Mandatory registration: <\/strong>It requires <strong>all financial interests in aircraft<\/strong> to be registered in the International Registry under Cape Town Convention.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: The Rajya Sabha passed the Protection of Interests in Aircraft Objects Bill, 2025. The Bill seeks to give legal effect to the Convention on International Interests in Mobile Equipment (also known as Cape Town Convention of 2001) and Protocol to this Convention in their application to India. About Cape Town Convention, 2001 It is&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cape-town-convention-2001\/\">Continue reading <span class=\"screen-reader-text\">Cape Town Convention, 2001<\/span><\/a><\/p>\n","protected":false},"author":10393,"featured_media":331868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1731,164,12056],"tags":[11872],"class_list":["post-331775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-factly-articles","category-bill-and-acts","category-international-relations-daily-factly-articles","category-knolls-daily-factly-articles","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/04\/Cape-Town-Convention-2001.png?fit=1280%2C850&ssl=1","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/331775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10393"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=331775"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/331775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/331868"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=331775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=331775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=331775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}