Formation and Structure
After a series of formative meetings during 1986, the Australian Equipment Lessors Association was formalised on 4 December 1986.
AELA was born out of a perceived need by lessors for an association which could address their specific finance product Issues separate from broader financial institutional concerns. Over the years this role expanded to include hire purchase & chattel mortgage, in recognition of the significance of these products in the equipment finance market. AELA’s principal objective is to provide a forum and focus for all matters affecting the lease and equipment finance industry, its regulatory framework and market structure.
AELA is incorporated under the NSW Associations Incorporation Act and membership is open to lease market participants having a minimum of $20 million net lease receivables in their own name or having a minimum of $200 million net lease receivables under their professional management; provision is also made for associate membership in a range of instances. Membership is corporate rather than personal.
In general AELA members comprise banks, finance companies, merchant banks, general financiers, equipment vendor lessors and lease packagers; associate members include other industry associations and legal and accounting firms, and support system suppliers with an interest in lease and equipment finance products. Although utilising the nation-wide resources of the Australian Finance Conference, AELA is structured and functions as an independent body and voice for equipment finance.
…members comprise banks, finance companies, merchant banks, general financiers, equipment vendor lessors and lease packagers…