Draft Convention on International Interests in Mobile Equipment 2001

CHAPTER X - NON-CONSENSUAL RIGHTS OR INTERESTS

Article 51

Registrable non-consensual rights or interests

A Contracting State may at any time in a declaration deposited with the depositary of this Convention list the categories of non-consensual right or interest which shall be registrable under this Convention as if the right or interest were an international interest and be regulated accordingly. Such a declaration may be modified from time to time.

Article 52

Priority of non-registrable non-consensual rights or interests

1. - A Contracting State may at any time in a declaration deposited with the depositary of this Convention declare, generally or specifically, those categories of non-consensual right or interest (other than a right or interest to which Article 51 applies) which under that State's law would have priority over an interest in the aircraft object equivalent to that of the holder of the international interest and shall have priority over a registered international interest, whether in or outside the insolvency of the debtor. Such a declaration may be modified from time to time.

2. - A declaration made under the preceding paragraph may be expressed to cover categories that are created after the deposit of that declaration.

3. - An international interest has priority over a non-consensual right or interest of a category not covered by a declaration deposited prior to the registration of the international interest.

Next Annual Meeting

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