If It Ain’t Broke, Don’t Fix It! The Development of the Draft MAC Protocol
Once adopted, the MAC Protocol will extend the operation of the Cape Town Convention to the mining, agricultural and construction sectors. In attempting to replicate the outstanding success of the Aircraft Protocol, the draft MAC Protocol has retained the earlier instrument’s core legal rules. However, the draft MAC Protocol also contains additional rules to accommodate practices in the manufacture, use and financing of mining, agricultural and construction equipment. This article provides a comparative legal analysis of the Aircraft Protocol and the draft MAC Protocol. By tracking the instrument’s development, consideration is given to how the draft MAC Protocol satisfies the criteria set out in Article 51 of the Cape Town Convention which govern the negotiation of future protocols. By retaining a policy of adherence to the Aircraft Protocol, the MAC Protocol is well positioned to provide a stable, clear and predictable international regime for the financing of mining, agricultural and construction equipment.