PART 4APPLICATION TO SALES

Application of Regulations to sales and prospective sales38

1

The following provisions of these Regulations apply in relation to sales and prospective sales—

a

regulation 6 in so far as it implements Articles 3 and 4 of the Cape Town Convention and Article III of the Aircraft Protocol;

b

regulation 10 and Schedule 3 in so far as they implement Article 16(1)(a) of the Cape Town Convention;

c

regulation 14 in so far as it implements Article 19(4) of the Cape Town Convention;

d

regulation 14 in so far as it implements Article 20(1) of the Cape Town Convention (as regards registration of a contract of sale or a prospective sale);

e

regulation 15 in so far as it implements Article 25(2) of the Cape Town Convention (as regards a prospective sale); and

f

regulation 36.

2

In the application of those provisions to sales and prospective sales—

a

references to an agreement creating or providing for an international interest are to be treated as references to a contract of sale;

b

references to an international interest are to be treated as references to a sale;

c

references to the debtor are to be treated as references to the seller; and

d

references to the creditor are to be treated as references to the buyer.

3

In addition, the provisions of the following regulations apply generally to contracts of sale and prospective sales—

a

regulation 5 in so far as it implements Article 1 of the Cape Town Convention;

b

regulation 5 in so far as it implements Article 5 of the Cape Town Convention;

c

regulations 10, 11, 12, 13, 14 and 15;

d

regulation 16;

e

regulation 17;

f

regulations 42 and 46.