The government is planning to roll out the Cape Town Convention Act which will help reduce risks related to asset-based financing and leasing transactions in the civil aviation sector. The main objective of the convention is to ensure efficient financing of high-value equipment such as airframes, helicopters and engines, in order to make operations cost effective and affordable for carriers. The convention will provide for default remedies for a creditor such as deregistration and export of aircraft as part of speedy interim relief in addition to a universally applicable legal regime in case of disputes. A draft bill for the same has already been put out for public consultations.