Vol. 554 No. 5
1243 Mr. Quinn asked the Minister for Transport Ireland's involvement to date with the proposed international registry for aircraft; the commitments Ireland is required to honour as part of the Unidroit Convention on International Interests in Mobile Equipment; the work undertaken to date by Ireland's representatives on the working group related to the implementation of the Unidroit Convention; and if he will make a statement on the matter. [16559/02]
The Convention on International Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on matters specific to Aircraft Equipment were adopted at the Diplomatic Conference in Cape Town on 16 November 2001.
The convention and protocol were developed under the joint auspices of Unidroit and the International Civil Aviation Organisation, ICAO, and are intended to provide an international legal framework to facilitate asset-based aircraft financing. Ireland has participated extensively in the preliminary work leading up to the adoption of the convention and protocol and continues to contribute in the work required to finalise the arrangements for the operation of the registry.
A key element of the convention and protocol is the establishment of an international registry of the various financial interests that are covered by the convention. An entry in the registry will, inter alia, determine the priority of financial interests associated with a particular aircraft.
Ireland has a long history of involvement in international civil aviation, initially due to its location on the western edge of Europe. In recent times Ireland has been successful in attracting a number of aircraft maintenance facilities and a significant number of aircraft leasing companies to base their activities in this country. In this context Ireland has made no secret of its interest in having the international registry located here to further enhance our reputation in the aviation sector.
It is intended that the location for the international registry will be determined through a competition to be run under the auspices of the Preparatory Commission for the International Registry, PCIR. The PCIR was established to fulfil the role of the supervisory authority on an interim basis prior to the coming into force of the convention and protocol. This is to enable the registry to begin operations as soon as possible.
Following a decision by the PCIR in Montreal in May 2002 the competition will be open to private sector firms as well as to member countries of ICAO. No date has been set for the commencement of the competition as ICAO is waiting on the donation of sufficient funds to finance the running of the competition and especially the professional and impartial evaluation of the bids. Ireland has already contributed to this fund.
