Aircraft Legislation Introduced

Nova Scotia will adopt an international agreement that governs the financing and acquisition of aircraft, in legislation introduced today, May 3, by Education Minister Jamie Muir on behalf of Justice Minister Michael Baker.

The International Interests in Mobile Aircraft Equipment Act implements the provisions of a convention and aircraft protocol signed in Cape Town, South Africa in 2001.

"We recognize that having consistent, clear approaches to commercial law across jurisdictions is very important," said Mr. Baker. "This legislation is part of a national effort to harmonize commercial legislation and we support that approach."

Under the convention, an international registry will be established for the registration of security interests in aircraft equipment. Additional protocols are expected to be added to the convention to deal with other kinds of mobile equipment such as railway cars.