Home Law Implementing the Cape Town Convention and the Domestic Laws on Secured Transactions
Ensuring the Outcome: Mechanisms to Achieve the Intended Goal
Besides adopting unified rules to replace the divergent domestic laws and introducing rules to improve the legal environment for aircraft financing, the Cape Town Convention has established a global institution operative in the real world. It is yet another feature of the Cape Town Convention that was absent in traditional uniform law instruments. In most cases, a uniform law treaty was merely a set of rules, and its implementation was entirely left to the States Parties. The only exception may be the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, which actually creates a pool of contributed money and makes available compensation to the victims of oil pollution from the Fund. The Convention on Compensation for Damage to Third Parties, Resulting from Acts of Unlawful Interference Involving Aircraft of 2009, adopted under the auspices of ICAO (International Civil Aviation Organization) provides for the establishment of the ICAO Fund to compensate the victims of aircraft accident due to an unlawful interference, but it has so far been unsuccessful in attracting many Parties.
The most visible part of the global scheme established by the Cape Town Convention is the International Registry. Further, there are several mechanisms to make the Convention operative in practice. On the side of the State Parties, the full compliance with the Convention has been strictly required. The following sections visit these issues in turn.
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