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REPUBLIC OF SOUTH AFRICA CONVENTION ON INTERNATIONAL INTERESTS IN MOBILE EQUIPMENT BILL (As introduced in the National Assembly (proposed section 75); explanatory summary of Bill published in Government
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What is convention on international interests?
Convention on International Interests in Mobile Equipment, also known as the Cape Town Convention, is an international treaty that establishes a unified legal framework for the creation, enforcement, and priority of security interests in movable property.
Who is required to file convention on international interests?
The convention requires aircraft operators, aircraft owners, and other parties with a registered interest in an aircraft to file a notice of their interest with the International Registry established under the Convention.
How to fill out convention on international interests?
To fill out the Convention on International Interests, parties need to provide relevant information about the aircraft, such as its type, registration mark, serial number, and details about the registered owner and any other interested parties.
What is the purpose of convention on international interests?
The purpose of the convention is to provide a transparent and efficient system for registering and protecting international interests in mobile equipment, particularly aircraft objects, and to facilitate financing and leasing transactions in the aviation industry.
What information must be reported on convention on international interests?
The convention requires the reporting of information such as the type of interest being claimed, details of the object (e.g., aircraft), identification of the debtor and the creditor, and any prior or competing interests.
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