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Convention on International Interests in Mobile Equipment Act, 2007 (Act No. 4 of 2007

Schedules

Schedule 1 : Convention

Chapter III : Default remedies

Article 10 - Remedies of conditional seller or lessor

 

 

In the event of default under a title reservation agreement or under a leasing agreement as provided in Article 11, the conditional seller or the lessor, as the case may be, may—

(a) subject to any declaration that may be made by a Contracting State under Article 54, terminate the agreement and take possession or control of any object to which the agreement relates; or
(b) apply for a court order authorising or directing either of these acts.