Martin Cullen (Waterford, Fianna Fail)

The short answer is "No", at least as far as the Bill is concerned. I am sure that sanctions may be taken under existing law, but it is far better to have this legislation in place, so that it is clear that those who voluntarily become members of the register, which is both open and voluntary, have the protection of the convention, whereas those outside it will be operating in a different way. Airlines that do not operate under the convention will be paying substantially more for their aircraft than those that will operate under it, as the financial arrangements for them will be far better. For instance, Ryanair's current huge order means that it will be an immediate beneficiary under the proposed financial arrangements. Ryanair will benefit enormously from that.