{"id":31657,"date":"2025-04-02T07:07:53","date_gmt":"2025-04-02T01:37:53","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=31657"},"modified":"2025-04-16T13:43:40","modified_gmt":"2025-04-16T08:13:40","slug":"protection-of-interests-in-aircraft-objects-bill-2025","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/protection-of-interests-in-aircraft-objects-bill-2025\/","title":{"rendered":"Protection of Interests in Aircraft Objects Bill, 2025"},"content":{"rendered":"<h2>Protection of Interests in Aircraft Objects Bill Latest News<\/h2>\n<p>The Rajya Sabha recently passed the Protection of Interests in Aircraft Objects Bill, 2025, which seeks to implement international conventions on the leasing of aviation equipment.<\/p>\n<h2>About Protection of Interests in Aircraft Objects Bill, 2025<\/h2>\n<ul>\n<li>The bill <strong>aims to implement<\/strong> international agreements, particularly the <strong>Convention on International Interests in Mobile Equipment<\/strong> (commonly known as the <strong>Cape Town Convention of 2001)<\/strong> and <strong>its Protocol on Aircraft Equipment.\u00a0<\/strong><\/li>\n<li><strong>India <\/strong>became <strong>a signatory <\/strong>to these agreements in 2008.\n<ul>\n<li>These international standards are designed to <strong>secure the rights over high-value mobile assets such as aircraft, helicopters, <\/strong>and <strong>engines<\/strong>, thereby ensuring greater <strong>legal clarity and uniformity<\/strong> across the aviation industry.<\/li>\n<li>The bill is designed to bring these international agreements into India\u2019s legal framework, ensuring that <strong>creditors and stakeholders in the aviation leasing space are protected <\/strong>under clear guidelines.<\/li>\n<\/ul>\n<\/li>\n<li>The <strong>bill empowers the central government to make rules <\/strong>to implement the provisions of the Convention and the Protocol.\u00a0<\/li>\n<li>The legislation <strong>designates<\/strong> the <strong>Directorate General of Civil Aviation (DGCA)<\/strong> as the <strong>registry authority for the purposes of the convention.\u00a0<\/strong><\/li>\n<li>The registry authority is <strong>responsible for the registration and de-registration of aircraft.<\/strong><\/li>\n<li>Key provisions of the bill include the <strong>requirement for creditors to notify the DGCA before initiating any remedies in the event of a default.\u00a0<\/strong><\/li>\n<li><strong>In cases where defaults occur<\/strong>, <strong>creditors <\/strong>will be <strong>entitled to recover assets s<\/strong>uch as aircraft, helicopters, and engines <strong>within two months, or a mutually agreed upon timeframe.<\/strong><\/li>\n<li><strong>The bill is expected to provide much-needed clarity and security, particularly in the leasing industry.<\/strong><\/li>\n<\/ul>\n<h2>Protection of Interests in Aircraft Objects Bill FAQs<\/h2>\n<p><strong>Q1<\/strong>. Which international convention does the Protection of Interests in Aircraft Objects Bill, 2025, seek to implement in India?<\/p>\n<p><strong>Ans<\/strong>. Convention on International Interests in Mobile Equipment (commonly known as the Cape Town Convention of 2001) and its Protocol on Aircraft Equipment.<\/p>\n<p><strong>Q2<\/strong>. When did India become a signatory to the Cape Town Convention and its Protocol on Aircraft Equipment?<\/p>\n<p><strong>Ans<\/strong>. 2008<\/p>\n<p><strong>Q3<\/strong>. Which authority is designated as the registry authority under the Protection of Interests in Aircraft Objects Bill, 2025?<\/p>\n<p><strong>Ans<\/strong>. Directorate General of Civil Aviation (DGCA)<\/p>\n<p><strong>Source<\/strong>: <a href=\"https:\/\/indianexpress.com\/article\/india\/aircraft-objects-bill-new-bill-to-boost-aircraft-leasing-industry-says-union-minister-9919204\/\" target=\"_blank\" rel=\"nofollow noopener\">IE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Protection of Interests in Aircraft Objects Bill, 2025, enforces the Cape Town Convention 2001, securing international interests in aircraft and related equipment.<\/p>\n","protected":false},"author":5,"featured_media":31658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-31657","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=31657"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/31658"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=31657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=31657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=31657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}