Peachey Allan: Civil Aviation (Cape Town Convention and Other Matters) Amendment Bill — First Reading Second Reading In Committee Third Reading 
Text is incorporated into the Bound Volume 
Peachey Allan: Civil Aviation (Cape Town Convention and Other Matters) Amendment Bill — First Reading Second Reading In Committee Third Reading 
[Sitting date: 22 June 2010. Volume:664;Page:12015. Text is incorporated into the Bound Volume.] 
ALLAN PEACHEY (National—Tamaki) 
: 
 I am pleased to support the Civil Aviation (Cape Town Convention and Other Matters) Amendment Bill and I will begin with a couple of remarks. 
Firstly I welcome the support that the Opposition parties are giving to this bill in the House and I express my regret that the Opposition does not find its way clear to support other significant bills that this Government has brought to the House. In particular the significant tax cuts that this Government is to deliver to New Zealanders on 1 October this year come to mind. 
The second observation I make is that the Transport and Industrial Relations Committee was well briefed by officials on the significance of this bill. If memory serves me right I think that I was— 
Hon Darren Hughes 
: It doesn’t. 
ALLAN PEACHEY 
: My memory serves me very very well—I am sorry I have forgotten the member’s name. 
Chris Tremain 
: It’s Hughes. 
ALLAN PEACHEY 
: I apologise to Mr Hughes. My memory serves me very very well sometimes. However I am not very good on the names of Labour Party politicians. As I was saying from my recollection I was the only member of the select committee who asked the officials for explanations. I was particularly interested—[ 
Interruption 
] I ask the chair of the committee whether I am wrong. 
David Bennett 
: No I don’t think so. 
ALLAN PEACHEY 
: Indeed I think I am right. I was particularly interested in knowing whether this bill when it becomes law will reduce the need for lawyers to become involved in this sort of thing and for litigation to occur. I am pleased to report to the House that I was assured that there would be considerably less need for lawyers and less need for litigation. That was a good enough reason for me to support this bill. 
Charles Chauvel 
: You don’t hear me bashing teachers! 
ALLAN PEACHEY 
: From listening to the interjections that are coming from a corner opposite I am almost inclined to take the view that we could do with having fewer lawyers in this House as well. After all our job is to make the law not pontificate about it and there is a big difference between the two in relation to the member. 
This convention is about the financing of mobile equipment and by “mobile equipment” we mean things like aircraft railway rolling stock and even space assets. That is what the bill is all about. The bill is designed to make raising and repaying the finance needed in order to purchase mobile equipment like aircraft much easier. At the moment if there is a dispute over for example payment for release it can involve more than one jurisdiction a whole pile of other laws and far too many lawyers. This bill is designed to simplify the process and to give much greater certainty around it not just to those who lend the money but also to those who borrow it. There will be greater certainty. The ultimate objective of course is to ensure that those who lend the money no longer require a premium charge to account for the risk that they have to take. By reducing the risk the raising of funding to finance the purchase of mobile equipment like aircraft should become simpler and it should be cheaper. Of course for a country like New Zealand which depends on aircraft more than many other countries do anything that makes that dependence cheaper is to be applauded. I commend the bill to the House.