| (1) |
This Convention provides for the constitution and effects of an international interest in certain categories of mobile equipment and associated rights. |
| (2) |
For the purposes of this Convention, an international interest in mobile equipment is an interest, constituted under Article 7, in a uniquely identifiable object of a category of such objects listed in paragraph 3 and designated in the Protocol— |
| (a) |
granted by the chargor under a security agreement; |
| (b) |
vested in a person who is the conditional seller under a title reservation agreement; or |
| (c) |
vested in a person who is the lessor under a leasing agreement. |
An interest falling within subparagraph (a) does not also fall within subparagraph (b) or (c).
| (3) |
The categories referred to in the preceding paragraphs are— |
| (a) |
airframes, aircraft engines and helicopters; |
| (b) |
railway rolling stock; and |
| (4) |
The applicable law determines whether an interest to which paragraph 2 applies falls within subparagraph (a), (b) or (c) of that paragraph. |
| (5) |
An international interest in an object extends to proceeds of that object. |
Financial Management of Parliament Act, 2009
