Mortgaging of Aircraft Order 1972U.K.
1.—(1) The Mortgaging of Aircraft Order 1972 M1 is amended as follows.
(2) In Article 2 (interpretation)—
(a)after the definition of “the Authority” insert—
““the Cape Town Convention Regulations” means the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015;” and
(b)at the end add—
“(3) An expression used in this Order and in the Cape Town Convention Regulations has the same meaning in this Order as in those Regulations.”
(3) After Article 9 (discharge of mortgages) insert—
“Transfer to international registration
9A.—(1) This article applies where the mortgagee applies to the Authority for the removal of an entry from the register on the grounds that an international interest has been registered, or is to be registered, under the Cape Town Convention in respect of the aircraft to which the mortgage relates.
(2) The Authority must—
(a)enter the application in the Register;
(b)mark the relevant entries in the Register ‘Removed on application in respect of registration of international interest’, and
(c)notify the mortgagee, the mortgagor and the owner that it has done so.”
(4) In Article 10 (rectification of the Register) after “for correcting any error therein” insert “ (including the removal of incorrect or outdated entries if the court thinks it necessary or appropriate) ”.
(5) In Article 14 (priority of mortgages) after paragraph (5) insert—
“(6) This article is subject to the rules set out in regulation 16 of the Cape Town Convention Regulations.”; (the paragraph inserted in the application of the Article to Scotland by Sch.2, para.1(b)(i) to the Order becomes numbered (7)).
(6) In Schedule 2 (application to Scotland)—
(a)in paragraph 9(a) after “over the aircraft” insert “ or who holds a registered interest under the Cape Town Convention ”;
(b)at the end of paragraph 9(b) add “ and of every person who holds a registered interest under the Cape Town Convention ”;
(c)in paragraph 9(c) after “shall be served upon any mortgagee” insert “ , and any person who holds a registered interest under the Cape Town Convention, ”;
(d)for paragraph 10(a) insert—
“(a)first, in payment of amounts due under a registered interest under the Cape Town Convention;
(aa)secondly, in payment of all expenses properly incurred by him in connection with the sale, or any prior attempted sale, of the aircraft;”;
(e)in paragraph 10(b), for “secondly,” substitute “ thirdly, ”;
(f)in paragraph 10(c), for “thirdly,” substitute “ fourthly, ”;
(g)in paragraph 10(d), for “fourthly,” substitute “ fifthly, ”;
(h)in paragraph 10(e), for “fifthly,” substitute “ sixthly, ”;
(i)in paragraph 11(1) after “as holding a mortgage over the aircraft” insert “ , every person who holds a registered interest under the Cape Town Convention, ”;
(j)in paragraph 11(4), for “the owner and every person shown in the Register as holding a mortgage over the aircraft,” substitute “ the owner and every person shown in the Register as holding a mortgage over the aircraft and every person who holds a registered interest under the Cape Town Convention, ”;
(k)in paragraph 12 after “a mortgagee in any mortgage of an aircraft registered in the United Kingdom” insert “ , or a person who holds a registered interest under the Cape Town Convention, ”.
(7) In relation to the holder of a registered interest under the Cape Town Convention—
(a)the reference in paragraph 9 of Schedule 2 to 60 days is to be taken as a reference to 10 days (unless a longer period is agreed between the parties), and
(b)the reference in paragraph 11(4) to 30 days is to be taken as a reference to 10 days (unless a longer period is agreed between the parties).
(8) Nothing in Schedule 2 prevents the holder of a registered interest under the Cape Town Convention from exercising a remedy under these Regulations or in accordance with the Cape Town Convention or the Aircraft Protocol.
Marginal Citations
M1S.I. 1972/1268; amendments have been made by S.I. 1981/611, S.I. 1986/2001 and by the Criminal Justice Act 1988 c. 33 Pt V s.51.