The FAA today published its Final Rule modifying existing regulations pursuant to the Cape Town Treaty Implementation Act of 2004. The Cape Town Treaty “creates a new international legal framework to give greater security to those who finance the purchase of aircraft, aircraft engines and certain helicopters. The financing provisions of the Treaty are fully consistent with current U.S. law under the Uniform Commercial Code. The Treaty establishes an International Registry where rights in aircraft, aircraft engines, and helicopters may be registered. The sole purpose of this registry is to establish the priorities between competing interests against certain aircraft and aircraft engines. There are no safety, oversight, or other regulatory implications. The existing FAA Aircraft Registry will be preserved and work in tandem with the new International Registry.”
The Final Rule will “enable persons to transmit information to the new International Registry concerning certain aircraft and aircraft engines by making the FAA Aircraft Registry the U.S. authorizing entry point to the International Registry”. The amendments included in the Final Rule become effective when the Cape Town Treaty enters into force with respect to the United States, except for the changes to subpart F of part 49 which are not effective until approved by the Office of Management and Budget. The Cape Town Treaty enters into force three months after the eighth country deposits formal instruments with the International Institute for the Unification of Private Law (Unidroit) depositary in Rome. So far five countries, including the U.S., have deposited their instruments. The FAA will publish a document announcing the effective date of this final rule.
Comments to the Final Rule are due no later than March 4, 2005 and may be sent: 1) Electronically to the DOT Docket Web site or to the Government-wide rulemaking Web site; 2) via U.S. Mail: Docket Management Facility; U.S. Department of Transportation, 400 Seventh Street, SW., Nassif Building, Room PL-401, Washington, DC 20590-001 or Office of Information and Regulatory Affairs, OMB, New Executive Building, Room 10202, 725 17th Street, NW., Washington, DC 20053, Attention: Desk Officer for FAA; 3) via Fax: 1-202-493-2251; or 4) via Hand Delivery: Room PL-401 on the plaza level of the Nassif Building, 400 Seventh Street, SW., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays.
For more information, you should review the Final Rule in more detail. It includes the changes being implemented, as well as a chart identifying the specific regulations being changed. Alternatively, you can contact Mr. Mark D. Lash, Civil Aviation Registry, Mike Monroney Aeronautical Center, 6500 South MacArthur Blvd., Oklahoma City, OK 73169, telephone (405) 954-4331.
