New Zealand is a signatory to the Cape Town Convention - Protocol Specific to Aircraft Equipment. The convention aims to stabilise the rights and interests of lenders and lessors of aircraft and aircraft equipment like engines and airframes.
Cape Town allows lenders and lessors to register an Irrevocable De-registration and Export Request Authorisation (“IDERA”). An IDERA is a creditor’s remedy in case of default by the lessee. An IDERA must be recorded with the registry authority – the Civil Aviation Authority of New Zealand for all New Zealand-registered aircraft.
Only the following aircraft and aircraft equipment are covered by the Cape Town Convention:
To record an IDERA a lender or lessor must correctly complete and submit the two IDERA forms and the fee. Once the CAA receives the completed IDERA forms, we will record and acknowledge receipt of the IDERA within 5 business days.
Only one party may enforce an IDERA - either the lessor or its certified designee. If a certified designee is the ‘authorised party’ on IDERA form 24047/09A, they must include a letter confirming their designation.
An IDERA may be removed only with the written consent of the authorised party. We'll act on the removal request and send a confirmation letter to the submitter. At this point the aircraft can be deregistered or the possession of the aircraft can change.
To de-register an aircraft under an IDERA, the authorised party must submit a de-registration form to us, which will act on the request and send a confirmation letter to the submitter. At this point, the aircraft is no longer on the New Zealand register and it does not possess an airworthiness certificate. Before the aircraft may be flown out of New Zealand, the aircraft must be registered and have an airworthiness certificate issued by an authorised registry authority. The registry authority does not need to be the Civil Aviation Authority of New Zealand.
IDERA registration requests and questions should be emailed to firstname.lastname@example.org
We'll always confirm we've received all IDERA applications, registrations and revocations.
The Civil Aviation Act 1990 does not protect your financial interest in an aircraft if the operator becomes insolvent.
You need to register that interest on either the International Registry or the Personal Property Security Register. To determine which register you should use for your interest, check the FAA website(external link).
If the aircraft or engine is listed, you should register your interest on the international registry. If your aircraft or engine type is not listed, you should use New Zealand’s Personal Property Security Register. See above Cape Town Convention – Protocol Specific to Aircraft Equipment