Convention on International Interests in Mobile Equipment - Cape Town Treaty

Published by Good Press, 2020

goodpress@okpublishing.info

EAN 4064066425395

Table of Contents

CHAPTER I SPHERE OF APPLICATION AND GENERAL PROVISIONS

Article 1 Definitions

Article 2 The international interest

Article 3 Sphere of application

Article 4 Where debtor is situated

Article 5 Interpretation and applicable law

Article 6 Relationship between the Convention and the Protocol

CHAPTER II CONSTITUTION OF AN INTERNATIONAL INTEREST

Article 7 Formal requirements

CHAPTER III DEFAULT REMEDIES

Article 8 Remedies of chargee

Article 9 Vesting of object in satisfaction; redemption

Article 10 Remedies of conditional seller or lessor

Article 11 Meaning of default

Article 12 Additional remedies

Article 13 Relief pending final determination

Article 14 Procedural requirements

Article 15 Derogation

CHAPTER IV THE INTERNATIONAL REGISTRATION SYSTEM

Article 16 The International Registry

Article 17 The Supervisory Authority and the Registrar

CHAPTER V OTHER MATTERS RELATING TO REGISTRATION

Article 18 Registration requirements

Article 19 Validity and time of registration

Article 20 Consent to registration

Article 21 Duration of registration

Article 22 Searches

Article 23 List of declarations and declared non-consensual rights or interests

Article 24 Evidentiary value of certificates

Article 25 Discharge of registration

Article 26 Access to the international registration facilities

CHAPTER VI PRIVILEGES AND IMMUNITIES OF THE SUPERVISORY AUTHORITY AND THE REGISTRAR

Article 27 Legal personality; immunity

CHAPTER VII LIABILITY OF THE REGISTRAR

Article 28 Liability and financial assurances

CHAPTER VIII EFFECTS OF AN INTERNATIONAL INTEREST AS AGAINST THIRD PARTIES

Article 29 Priority of competing interests

Article 30 Effects of insolvency

CHAPTER IX ASSIGNMENTS OF ASSOCIATED RIGHTS AND INTERNATIONAL INTERESTS; RIGHTS OF SUBROGATION

Article 31 Effects of assignment

Article 32 Formal requirements of assignment

Article 33 Debtor’s duty to assignee

Article 34 Default remedies in respect of assignment by way of security

Article 35 Priority of competing assignments

Article 36 Assignee’s priority with respect to associated rights

Article 37 Effects of assignor’s insolvency

Article 38 Subrogation

CHAPTER X RIGHTS OR INTERESTS SUBJECT TO DECLARATIONS BY CONTRACTING STATES

Article 39 Rights having priority without registration

Article 40 Registrable non-consensual rights or interests

CHAPTER XI APPLICATION OF THE CONVENTION TO SALES

Article 41 Sale and prospective sale

CHAPTER XII JURISDICTION

Article 42 Choice of forum

Article 43 Jurisdiction under Article 13

Article 44 Jurisdiction to make orders against the Registrar

Article 45 Jurisdiction in respect of insolvency proceedings

CHAPTER XIII RELATIONSHIP WITH OTHER CONVENTIONS

Article 45 bis Relationship with the United Nations Convention on the Assignment of Receivables in International Trade

Article 46 Relationship with the UNIDROIT Convention on International Financial Leasing

CHAPTER XIV FINAL PROVISIONS

Article 47 Signature, ratification, acceptance, approval or accession

Article 48 Regional Economic Integration Organisations

Article 49 Entry into force

Article 50 Internal transactions

Article 51 Future Protocols

Article 52 Territorial units

Article 53 Determination of courts

Article 54 Declarations regarding remedies

Article 55 Declarations regarding relief pending final determination

Article 56 Reservations and declarations

Article 57 Subsequent declarations

Article 58 Withdrawal of declarations

Article 59 Denunciations

Article 60 Transitional provisions

Article 61 Review Conferences, amendments and related matters

Article 62 Depositary and its functions

CHAPTER I SPHERE OF APPLICATION AND GENERAL PROVISIONS

Table of Contents

Article 1 Definitions

Table of Contents

In this Convention, except where the context otherwise requires, the following terms are employed with the meanings set out below:

a) “agreement” means a security agreement, a title reservation agreement or a leasing agreement;

b) “assignment” means a contract which, whether by way of security or otherwise, confers on the assignee associated rights with or without a transfer of the related international interest;

c) “associated rights” means all rights to payment or other performance by a debtor under an agreement which are secured by or associated with the object;

d) “commencement of the insolvency proceedings” means the time at which the insolvency proceedings are deemed to commence under the applicable insolvency law;

e) “conditional buyer” means a buyer under a title reservation agreement;

f) “conditional seller” means a seller under a title reservation agreement;

g) “contract of sale” means a contract for the sale of an object by a seller to a buyer which is not an agreement as defined in (a) above;

h) “court” means a court of law or an administrative or arbitral tribunal established by a Contracting State;

i) “creditor” means a chargee under a security agreement, a conditional seller under a title reservation agreement or a lessor under a leasing agreement;

j) “debtor” means a chargor under a security agreement, a conditional buyer under a title reservation agreement, a lessee under a leasing agreement or a person whose interest in an object is burdened by a registrable non-consensual right or interest;

k) “insolvency administrator” means a person authorised to administer the reorganisation or liquidation, including one authorised on an interim basis, and includes a debtor in possession if permitted by the applicable insolvency law;

l) “insolvency proceedings” means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

m) “interested persons” means:

(i) the debtor;

(ii) any person who, for the purpose of assuring performance of any of the obligations in favour of the creditor, gives or issues a suretyship or demand guarantee or a standby letter of credit or any other form of credit insurance;

(iii) any other person having rights in or over the object;