The new operating rules, known as Overseas Territories Aviation Requirements, describe the standards that civil aviation must meet and will cover aviation in:

• Anguilla;
• Bermuda;
• British Virgin Islands;
• Cayman Islands;
• Falkland Islands;
• Gibraltar;
• Montserrat;
• St Helena & Dependencies; and
• Turks and Caicos Islands.

"The new requirements will have a significant effect on those who manufacture, operate or maintain Overseas Territory registered aircraft, operate airports and air traffic services in the Overseas Territories, or who hold personnel licences (or validations) issued by any of the Territories," ASSI Chief Executive Rod Dean said.

In order to ensure that the industry is aware of these changes, ASSI is holding a series of free presentations throughout Europe and the Overseas Territories, including additional specialist sessions for government officials.

Air Safety Support International Ltd was formally established on 01 April 2003 and is funded through the UK Department for Transport (DfT). The company’s remit, through Directions from the UK Secretary of State for Transport to the UK CAA, is to audit safety regulation in each UK Territory; to provide assistance, training and advice to the Territories; to carry out safety regulation where designated by the Governor; to draft amendments to the AN (OT) O and produce means of compliance with the legislation.

Several of the Overseas Territories have significant numbers of aircraft registrations. In Bermuda, for instance, aircraft are registered under the Air Navigation (Overseas Territories) Order 1989. Some fairly sophisticated financing structures can be employed in Bermuda for ship and aircraft construction or purchase, including leasing. US owners of aircraft in particular used to be able to benefit from the use of Foreign Sales Corporations (now abolished) in association with purpose trusts, in order to achieve a tax-efficient lease of the aircraft to foreign operators.