Legal framework in support of commercialization of outer space: the case of the Isle of Man
- Paper number
IAC-08.E8.5.16
- Author
Ms. Timiebi Aganaba, International Space University (ISU), France
- Year
2008
- Abstract
This paper looks at the continued growth of the Isle of Man as the financial hub for the international space community. Particularly in light of the proposed UNIDROIT Convention on International Interests in Mobile Equipment as Applied to Space Assets, and the effect of the Isle of Man's intentions to adopt elements of UNIDROIT to establish the world's first commercial space register established on the Island will be discussed. With the increasing surge towards increased commercialization of outer space, "New Space" entities are emerging. The profile of space actors is moving from strictly governmental, intergovernmental and multi national companies to include smaller entrepreneurial companies with ambitious ideas. For many new actors, access to capital and lack of certainty of the law are proving major challenges to the progression of the commercial space industry. As such, the choice of regulatory environment is crucial to the success and profitability of business. A little Island at the heart of the British Isles, the Isle of Man is adopting measures to tackle these challenges and attracting established satellite communications as well as 'New Space' business through the establishment of a tight regulatory environment specifically tailored to the needs of the industry. The latest strategy, the creation of an Isle of Man financial register of space assets, will mark a symbolic maturing of the space sector in the Isle of Man. The proposed registry will seek to provide a platform for commerce as no other space registry has. Already a renowned jurisdiction for shipping and aircraft registration, this initiative may be the next logical step for the Island to facilitate strong regulatory environment for the financing of space assets while providing a platform for the Island in its continuing work to establish itself as a leading international finance centre dedicated to space.
- Abstract document
- Manuscript document
IAC-08.E8.5.16.pdf (🔒 authorized access only).
To get the manuscript, please contact IAF Secretariat.