Hong Kong, 13 December 2011 – CASBAA has joined the European Satellite Operators Association (ESOA), the Satellite Industry Association of (SIA) of the United States and the Space Industry Association of Australia (SIAA) to express urgent global concern over proposed new international legislation, the Space Assets Protocol, sponsored by the International Institute for the Unification of Private Law (UNIDROIT) based in Italy.
Meanwhile, some 90 satellite operators, manufacturers and financiers1 drawn from around the world have also written to UNIDROIT and its member governments to register their own deep-seated reservations.
According to CASBAA and the other international organizations, the UNIDROIT Space Assets Protocol would create an unprecedented and unnecessary legal framework for financing satellite and space programs despite the fact that no problems have been identified with the existing framework for funding commercial satellite programs.
Rather than promoting new financing, the proposed Protocol risks complicating and damaging the existing and well functioning processes. The industry would be confronted with the prospect of obligations and costs from the new legislation that purports to remedy a problem that simply does not exist.
“At a time when governments are urging industry to create more jobs to enable growth, if enacted, the legislation will place counter-productive burdens on the worldwide satellite industry”, said the chief executives of CASBAA, SIA, ESOA and SIAA2. “The additional bureaucracy will bog down procurement, reduce investment and result in the creation of fewer jobs in one of the most innovative and successful industries in the world.”
“We believe that the overwhelming opposition of the global industry should count for something in the priorities of our governments,” the four chief executives said. “We therefore urge all those with an interest in the continuing success of this sector to speak up and stop this process.”
A full analysis of the “Space Assets Protocol” can be found at http://www.esoa.net/news-info-23.htm, http://www.casbaa.com/regulatory/satellite-issues/international, www.sia.com and at www.spaceindustry.com.au.
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About CASBAA – www.casbaa.com
Established in 1991, CASBAA is the Association for digital multichannel TV, content, platforms, advertising and video delivery across Asia for the past two decades. Spanning 17 geographic markets, CASBAA and its Members reach over 420 million connections through a footprint ranging from China to Australasia, Japan to Pakistan. The CASBAA mission is to promote the growth of multichannel TV and video content through industry information, networking exchanges and events while promoting global best practices. To view the full list of CASBAA members please visit here.
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1. Satellite Operators: Arabsat, Asia Broadcast Satellite, AsiaSat, Astrium Services, Avanti, Ciel, EchoStar Corporation, EgyptSat, Empresa Argentina de Soluciones Satelitales, Eurasiasat, Eutelsat, Globalstar, Hellas Sat, Hispamar, Hispasat, Horizons LLC, Hughes Communications Inc., Immarsat, Intelsat, Iridium, Korea Telecom, Kypros Satellites, LightSquared, Measat, New Dawn Satellite Company Ltd., NewSat, O3b Limited, Optus Satellite, Quetzsat, RapidEye, SES, SKY Perfect JSAT, Spacecom, StarOne, SWANsat Holdings LLC, Telenor Satellite Broadcasting AS, Telesat, Thuraya, Turksat, ViaSat, WildBlue, XTAR LLC, Yahsat; Spacecraft Manufacturers and Launch Service Providers: Arianespace, Astrium Satellites, Boeing, ILS, Lockheed Martin, Mistubishi Electric Corp. Space Division (MELCO), OHB AG, Orbital Sciences Corporation, Sea Launch, Space Systems/Loral, SpaceX, Thales Alenia Space; Space Insurers and Underwriters: Aon Risk Services, Atrium Space Insurance Consortium, Brit Insurance, Elseco Limited, Global Aerospace Underwriting Managers Ltd., International Insurance Company of Hannover Limited, JLT Specialty Limited, Liberty Syndicate Management, Marsh Space Projects, Munich Reinsurance Company, Watkins Syndicate, Willis Inspace, XL Insurance America; Financial Community: Banco Bilbao Vizcaya Argentaria, Bank of America Merrill Lynch, Barclays Capital, Commerzbank, Deutsche Bank, Goldman Sachs, ING, JP Morgan, Lazard, Morgan Stanley, UBS; Other Satellite and Space-Related Organisations and Institutions: CASBAA, European Satellite Operators Association, Global VSAT Forum, ManSat LLC, Mobile Satellite Users Association, Satellite Action Plan Regulatory Group, Satellite Industry Association, Space Industry Association of Australia
2. Simon Twiston Davies, CASBAA CEO; Aarti Holla-Maini, ESOA Secretary General; Patricia Cooper, SIA President; Brett Biddington, SIAA Chairman