Practitioners will be aware that the United Kingdom Government
is set to ratify the Convention on International Interests in
Mobile Equipment and the Protocol thereto on matters specific to
Aircraft Equipment (the Cape Town
Convention). Extension of the Cape Town Convention to
Cayman is now imminent.
In the meantime the Cayman Islands authorities have been busy
preparing all necessary enabling legislation to bring the Cape Town
Convention into force so that it interacts harmoniously with
existing Cayman registration regimes. The key new statute is the
International Interests in Mobile Equipment (Cape Town Convention)
Law 2015 (the Enabling Law).
What does this mean?
Once extended to Cayman, the Cape Town Convention will directly apply to that
jurisdiction, with Cayman gaining the status of a territorial unit
of a Convention State. However, the Cape Town Convention is not a
one-size-fits-all proposition. Convention States can opt in and out
of the law by
