Registration of civil aircraft and the Cape Town Convention

In this context and in line with the objectives of the Convention, an International Registry of Mobile Assets (‘the International Registry’) is created for each category of property included in a protocol, registration, however, is not a requirement to grant international security interests, but only for such to be payable in priority. Registration in respect of aircraft equipment («assets») is in operation and is run by an Irish private company, under the supervision of the International Civil Aviation Organization. Essentially: (i) public recording is absent of examination, so the effect of such is not evidence of authentication, but merely enforceability of registered charges, (ii) the object of registration is not the debtor, but the chattel, (iii) it allows the creditor («chargee») to keep his rank against third parties and to receive priority consideration against national security interests not registered in the International Registry or not covered by a declaration made by a Contracting State under art. 39, it also allows the registration of priority subordination agreements relating to security interests («notices»), (iv) registration becomes effective from the moment it can be consulted. According to art. 18 of the Convention, the Registry’s registration requirements shall be those set by the appropriate Protocol and by each Register’s Rules («regulations»). Sub-article 5 of the provision provides for the possibility of each Protocol providing that the Contracting State may designate in its territory one or more entities as entry points through which the information needed for registration shall or may be passed on to the International Registry, adding that «[a] Contracting State making such a designation may specify the requirements, if any, to be satisfied before such information is transmitted to the International Registry.» The three Protocols to the Cape Town Convention envisage this possibility…