Cape Town Treaty
The Minister for Business and Enterprise (Matthew Hancock)
Last year the Government signalled their intention to ratify the convention on international interests in mobile equipment and the protocol thereto on matters specific to aircraft equipment, commonly called the Cape Town treaty, by laying the convention and protocol before Parliament as Command papers.
This treaty contains a number of optional provisions which the UK can decide whether or not to adopt. BIS held a consultation on the optional provisions between June and August 2014. Today I am publishing the response to the consultation, impact assessment, draft implementing regulations and draft guidance. The response to the consultation sets out which of the optional provisions the UK intends to adopt. I am also laying a supplementary explanatory memorandum to accompany the Command papers to update Parliament on the declarations the UK will make under the treaty.
A short technical consultation is being held on the practical effect of the draft regulations. Comments are also invited on the draft guidance. Following the technical consultation the necessary regulations will be made to implement the treaty. The treaty will come into effect on the first day of the month, three months after the instruments have been deposited with the International Institute of Private Law (Unidroit), the depository for the treaty.
[HCWS344]