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

Schedules

Schedule 2 : Protocol

Chapter III : Registry Provisions relating to International Interests in Aircraft Objects

Article XX - Additional modifications to Registry provisions

 

 

(1) For the purposes of Article 19 (6) of the Convention, the search criteria for an aircraft object shall be the name of its manufacturer, its manufacturer’s serial number and its model designation, supplemented as necessary to ensure uniqueness. Such supplementary information shall be specified in the regulations.

 

(2) For the purposes of Article 25 (2) of the Convention and in the circumstances there described, the holder of a registered prospective international interest or a registered prospective assignment of an international interest or the person in whose favour a prospective sale has been registered shall take such steps as are within its power to procure the discharge of the registration no later than five working days after the receipt of the demand described in such paragraph.

 

(3) The fees referred to in Article 17 (2)(h) of the Convention shall be determined so as to recover the reasonable costs of establishing, operating and regulating the International Registry and the reasonable costs of the Supervisory Authority associated with the performance of the functions, exercise of the powers, and discharge of the duties contemplated by Article 17 (2) of the Convention.

 

(4) The centralised functions of the International Registry shall be operated and administered by the Registrar on a twenty-four hour basis. The various entry points shall be operated at least during working hours in their respective territories.

 

(5) The amount of the insurance or financial guarantee referred to in Article 28 (4) of the Convention shall, in respect of each event, not be less than the maximum value of an aircraft object as determined by the Supervisory Authority.

 

(6) Nothing in the Convention shall preclude the Registrar from procuring insurance or a financial guarantee covering events for which the Registrar is not liable under Article 28 of the Convention.