The Cape Town Convention was opened for signature in 2001. The United Kingdom opted to ratify the Convention and the Protocol in 2014. The UK Cape Town Regulations are expected to come into effect in the summer of 2015. Consequently, the Cayman Islands (a British overseas territory) is now preparing to implement the Convention and the Protocol. These developments will further enhance the desirability of the Cayman Islands as a leading jurisdiction for aviation finance, by incorporating a registration-based system of internationally recognised interests and insolvency rules.