Premier Dr. the Hon. D. Orlando Smith says that Government is putting new energy into aircraft registration. The BVI Leader acknowledged that aircraft registration is something that his government has long considered, but noted that for various reasons the initiative has not been fully pursued.
During a press conference on 8 October, the BVI Leader announced that aircraft registration is one of the value-added services being considered by Government: “We are putting new energy, and more resources into getting this up and running.”
Both the present and last administration hailed the registration of aircrafts as an added revenue maker for the Territory, and in this regard there was agreement in the House of Assembly when the Mortgaging of Aircraft and Aircraft Engines Act, 2011 was passed on 7 June, 2011.
During the debate, then Minister for Communications and Works (current Leader of the Opposition) Hon. Julian Fraser announced that the Territory was then joining other Territories who had long established aircraft registries.
“There are huge benefits to be derived from these registers Mr. Speaker. The BVI will not be a trailblazer in this regard because such already exist in places like Bermuda, Cayman Islands and Turks and Caicos which has recently started their register… we are confident that given our track record in company registrations and the transparency that has been established in that area, that there is the need and a want in the BVI for the registers to be established,” Hon. Fraser stated.
The importance of such a venture was later noted in the 2011 Speech From the Throne by then Governor Boyd McCleary. The Mortgaging of Aircraft and Aircraft Engines Act, 2011 came into force on 15 October 2012 and in the process gave more bite to a mechanism that was established decades before.