Cape Town Treaty

Cape Town Treaty
Cape Town Convention on International Interests in Mobile Equipment

{{{image_alt}}}

  Parties
  Signatories
  Parties, also covered by EU's accession
  Signatories, also covered by EU's accession
  covered by EU's accession
Signed 16 November 2001
Location Cape Town, South Africa
Effective 1 March 2006
Condition 3 ratifications
Parties 72
Depositary International Institute for the Unification of Private Law
Citations 2307 U.N.T.S. 285
Languages English, Arabic, Chinese, French, Russian and Spanish
Convention on International Interests in Mobile Equipment at Wikisource

The Cape Town Convention on International Interests in Mobile Equipment, or Cape Town Treaty is an international treaty intended to standardize transactions involving movable property. The treaty creates international standards for registration of contracts of sale (including dedicated registration agencies), security interests (liens), leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.

Three protocols to the convention are specific to three types of movable equipment: Aircraft Equipment (aircraft and aircraft engines; signed in 2001), railway rolling stock (signed in 2007) and space assets (signed in 2012).

The treaty resulted from a diplomatic conference held in Cape Town, South Africa in 2001. The conference was attended by 68 countries and 14 international organizations. 53 countries signed the resolution proposing the treaty .[1] The treaty came into force on 1 April 2004 ,[2] and has been ratified by 57 parties. The Aircraft Protocol (which applies specifically to aircraft and aircraft engines ) took effect on 1 March 2006 when it was ratified by 8 countries: Ethiopia, Ireland, Malaysia, Nigeria, Oman, Panama, Pakistan, and the United States.

Signatures and ratifications

As of July 2015, the convention has been ratified by 64 states as well as the European Union. The railway rolling stock and the space protocols have been ratified by respectively two countries (Luxembourg and Gabon), as well as the European Union, and no countries and thus have not taken effect. An overview of the status of the treaty and protocols is shown below:

Instrument Signature Location Entry into force Signatures Ratifications
(required for entry into force)
Convention 16 November 2001 Cape Town 1 March 2006 28 72 (3)
Aircraft Protocol 16 November 2001 Cape Town 1 March 2006 23 65 (8)
Railway Rolling Stock Protocol 23 February 2007 Luxembourg - 8 2 (4)
Space Assets Protocol 9 March 2012 Berlin - 4 0 (10)

In the United States, the treaty was approved by the U.S. Senate in 2003, and implemented by the full Congress in the Cape Town Treaty Implementation Act of 2004.

European Union

The European Union joined the convention and the Aircraft Protocol as a Regional Economic Integration Organization. On the subject of the convention, both the Member states of the European Union and the Union itself have competence: e.g. while the substantive law regarding insolvency is regulated by the states, the conflict of law-rules (which county has jurisdiction etc.) is regulated by the European Union. According to the Government of the Netherlands the acceptance of the European Union in a member state which itself is not a party to the convention has no practical consequences.[3] The European Union ratified the Luxembourg Rail protocol in December 2014 as a Regional Economic Integration Organization on the same basis.

Protocols

Aircraft Protocol
  Parties
  Signed
  Parties, also covered by EU's accession
  Signatories, also covered by EU's accession
  covered by EU's accession

Aircraft Protocol

The aircraft Protocol (officially: Protocol to the Convention on International Interests in Mobile Equipment on matters specific to aircraft equipment) was signed immediately with the treaty and the only protocol currently entered into force. It applies to aircraft which can carry at least eight people or 2750 kilograms of cargo, aircraft engines with thrust exceeding 1,750 pounds-force (7,800 N) or 550 horsepower (410 kW), and helicopters carrying five or more passengers. The International Registry of Mobile Assets established to record international property interests in the aircraft equipment covered by the treaty is located in Ireland. Mediation cases for leasing disputes are to be heard in the High Court of Ireland.[4] As of April 2016, the protocol has 65 contracting parties, which includes 64 states and the European Union.

Wikisource has original text related to this article:
State Date of Ratification/
Accession 		Comments
 Afghanistan 25 July 2006
 Albania 30 October 2007
 Angola 30 April 2006
 Australia 26 May 2015
 Bahrain 27 November 2012
 Bangladesh 15 December 2008
 Belarus 27 September 2011
 Bhutan 4 July 2014
 Brazil 30 November 2011
 Cameroon 14 April 2011
 Canada 21 December 2012 New Brunswick: effective 1 July 2016
Yukon: effective 1 October 2014
others: 1 April 2013
 Cape Verde 26 September 2007
 China 3 February 2009 Excluding
 Hong Kong
 Macao
 Colombia 19 February 2007
 Congo 13 March 2013
 Democratic Republic of Congo 6 May 2016
 Côte d'Ivoire 1 March 2016
 Cuba 28 January 2009
 Denmark 26 October 2015
 Egypt 10 December 2014
 Ethiopia 21 November 2003
 European Union 28 April 2009 Only as far as it has competency
over subjects of the convention/protocol.
Not applicable to Denmark
 Fiji 30 May 2012
 India 31 March 2008
 Indonesia 16 March 2007
 Ireland 23 August 2005
 Jordan 31 August 2010
 Kazakhstan 1 June 2011
 Kenya 13 October 2006
 Kuwait 31 October 2013
 Latvia 8 February 2011
 Luxembourg 27 June 2008
 Madagascar 15 December 2008
 Malawi 10 April 2013
 Malaysia 16 January 2014
 Malta 1 October 2010
 Mexico 31 July 2007
 Mongolia 19 October 2006
 Mozambique 18 July 2013
 Myanmar 3 December 2012
 Kingdom of the Netherlands 17 May 2007 Not European Netherlands
Only for  Aruba
 Curaçao
 Sint Maarten
 Caribbean Netherlands
 New Zealand 20 July 2010
 Nigeria 16 December 2003
 Norway 20 December 2010
 Oman 21 March 2005
 Pakistan 22 January 2004
 Panama 28 July 2003
 Russia 25 May 2011
 Rwanda 28 January 2010
 San Marino 9 September 2014
 Saudi Arabia 27 June 2008
 Senegal 9 January 2006
 Sierra Leone 26 July 2016
 Singapore 28 January 2009
 South Africa 18 January 2007
 Spain 27 November 2015
 Swaziland 17 November 2016
 Sweden 30 December 2015
 Tajikistan 31 May 2011
 Togo 1 December 2011
 Turkey 23 August 2011
 Ukraine 31 July 2012
 United Arab Emirates 29 April 2008
 United Kingdom 27 July 2015 Extended to Cayman Islands, Gibraltar and Guernsey (2015), and the Isle of Man and Bermuda (2017)
 United States 28 October 2004
 Tanzania 30 January 2009
 Vietnam 17 September 2014

Railway Rolling Stock

Wikisource has original text related to this article:

The Railway Rolling Stock Protocol, or Luxembourg Rail Protocol, officially the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Railway Rolling Stock was adopted on 23 February 2007 at a diplomatic conference in Luxembourg and applies to railway rolling stock (broadly defined as "vehicles movable on a fixed railway track or directly on, above or below a guideway").

The protocol establishes an international registry located in Luxembourg at which all international interests under the protocol will be registrable. The registry will also issue unique identifiers for rolling stock on request. Regulis S.A., a subsidiary of SITA, was appointed in November 2014 to act as Registrar. The protocol requires ratification by 4 countries, together with a certification by the secretariat to the Supervisory Authority that the registry is fully operational, in order to enter into force. Currently it has been signed by France, Gabon, Germany, Italy, Luxembourg, Mozambique, Switzerland, Sweden, the UK as well as the European Union, while it has been ratified by the European Union and 2 states: Luxembourg and Gabon.

Space Assets

The Space Assets protocol, or Berlin Space Protocol[5] (officially Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Space Assets) was concluded on 9 March 2012 and requires 10 ratifications before entry into force (in the original protocol this number was 4).[6] The protocol applies to objects functioning in space like satellites or satellite parts.[7] The convention was strongly opposed by the satellite industry, claiming that it would lead to increased bureaucracy and "make the financing of new satellite projects more difficult and expensive".[8]

References

  1. ↑ "Diplomatic Conference to adopt a Mobile Equipment Convention and an Aircraft Protocol, Cape Town, South Africa, 29 October - 16 November 2001". International Institute for the Unification of Private Law (UNIDROIT). Retrieved 2006-11-22.
  2. ↑ "The Cape Town Treaty and Markup". U.S. House of Representatives, Subcommittee on Aviation. 2004-04-29. Archived from the original on 2006-11-20. Retrieved 2006-11-22.
  3. ↑ "32 227 (R 1904) Verdrag inzake internationale zakelijke rechten op mobiel materieel en Protocol bij het Verdrag inzake internationale zakelijke rechten op mobiel materieel betreffende voor luchtvaartmaterieel specifieke aangelegenheden; Kaapstad, 16 november 2001". Government of the Netherlands (in Dutch). 27 November 2009. Retrieved 13 March 2012.
  4. ↑ "Aircraft leasing disputes to be heard in Dublin". Sunday Business Post. 11 May 2008.
  5. ↑ "Pressemitteilung: Berliner Weltraumprotokoll verabschiedet". Ministry of Justice (Germany) (Press release) (in German). 9 March 2012. Archived from the original on 10 March 2012. Retrieved 11 March 2012.
  6. ↑ "text of the draft Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Space Assets" (PDF). UNIDROIT. June 2011. Archived from the original (PDF) on 13 March 2012. Retrieved 13 March 2012.
  7. ↑ "Draft Final Provisions capable of embodiment in the draft Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Space Assets, with Explanatory Notes" (PDF). UNIDROIT. June 2011. Archived from the original (PDF) on 13 March 2012. Retrieved 13 March 2012.
  8. ↑ "Global Satellite Industry denounces UNIDROIT Protocol". Satellite Industry Association (Press release). SpaceRef.com. 9 March 2012. Retrieved 11 March 2012.
Wikisource has original text related to this article:
Aircraft Protocol
Luxembourg Rail Protocol
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.