Draft Convention on International Interests in Mobile Equipment 2001

CHAPTER IV - THE INTERNATIONAL REGISTRATION SYSTEM

Article 25

The International Registry

1. - An International Registry shall be established for registrations of:

(a) international interests, prospective international interests and registrable non-consensual rights and interests;

(b) assignments and prospective assignments of international interests;

(c) acquisitions of international interests by legal or contractual subrogation;

(d) subordinations of interests referred to in sub-paragraph (a) of this paragraph;

(e) notices of national interests.

2. - For the purposes of this Chapter and Chapter V, the term "registration" includes, where appropriate, an amendment, extension or discharge of a registration.

Article 26

The Supervisory Authority

1. - There shall be a Supervisory Authority which shall be [........].

2. - The Supervisory Authority shall:

2 establish or provide for the establishment of the International Registry;

(b) appoint or re-appoint the Registrar in accordance with the provisions of Article 27;

2 ensure that any rights required for the continued effective operation of the International Registry are such as may be assigned in the event of a change of Registrar;

(d) after consultation with the Contracting States, make or approve and ensure the publication of regulations dealing with the operation of the International Registry;

(e) establish administrative procedures through which complaints concerning the operation of the International Registry can be made to the Supervisory Authority;

(f) supervise the Registrar and the operation of the International Registry;

(g) at the request of the Registrar provide such guidance to the Registrar as the Supervisory Authority thinks fit;

(h) set and periodically review the structure of fees to be charged for the services and facilities of the International Registry;

(i) do all things necessary to ensure that an efficient notice-based electronic registration system exists to implement the objectives of this Convention; and

(j) report periodically to Contracting States concerning the discharge of its obligations under this Convention.

3. - The Supervisory Authority may enter into any agreement requisite for the performance of its functions including any agreement referred to in Article 39(3).

4. - The Supervisory Authority shall own all proprietary rights in the data and archives of the International Registry.

5. - The first regulations shall be made by the Supervisory Authority so as to take effect on the entry into force of this Protocol.

Article 27

The Registrar

1. - The first Registrar shall operate the International Registry for a period of five years from the date of entry into force of this Convention. Thereafter, the Registrar shall be appointed or re-appointed at regular five-yearly intervals by the Supervisory Authority.

2. - The Registrar shall ensure the efficient operation of the International Registry and perform the functions assigned to it by this Convention and the regulations.

3. - The fees referred to in Article 26(2)(h) 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 26(2) of this Convention.

Article 28

Designated entry points

1. - At the time of ratification, acceptance, approval of, or accession to this Convention, a Contracting State may, subject to paragraph 2, designate an entity in its territory as the entity through which the information required for registration shall or may be transmitted to the International Registry.

2. - A Contracting State may make a designation under the preceding paragraph only in relation to:

(a) international interests in, or sales of, helicopters or airframes pertaining to aircraft for which it is the State of registry;

(b) registrable non-consensual rights or interests created under its domestic law; and

(c) notices of national interests.

Article 29

Working hours of the registration facilities

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 during working hours in their respective territories.

Next Annual Meeting

2017 Conference

Hotel Saskatchewan

Regina, SK

August 13 - 17, 2017
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