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  • 1.

    Conventions
    To which major air law treaties is your state a party?

  • 2.

    Domestic legislation
    What is the principal domestic legislation applicable to aviation finance and leasing?

  • 3.

    Governing law
    Are there any restrictions on choice-of-law clauses in contracts to the transfer of interests in or creation of security over aircraft? If parties are not free to specify the applicable law, is the law of the place where the aircraft is located or where it is registered the relevant applicable law?

  • 4.

    Transfer of aircraft
    How is title in an aircraft transferred?

  • 5.

    Transfer document requirements
    What are the formalities for creating an enforceable transfer document for an aircraft?

  • 6.

    Aircraft registry
    Identify and describe the aircraft registry.

  • 7.

    Registrability of ownership of aircraft and lease interests
    Can an ownership or lease interest in, or lease agreement over, aircraft be registered with the aircraft registry? Are there limitations on who can be recorded as owner? Can an ownership interest be registered with any other registry? Can owners’, operators’ and lessees’ interests in aircraft engines be registered?

  • 8.

    Registration of ownership interests
    Summarise the process to register an ownership interest.

  • 9.

    Title and third parties
    What is the effect of registration of an ownership interest as to proof of title and third parties?

  • 10.

    Registration of lease interests
    Summarise the process to register a lease interest.

  • 11.

    Certificate of registration
    What is the regime for certification of registered aviation interests in your jurisdiction?

  • 12.

    Deregistration and export
    Is an owner or mortgagee required to consent to any deregistration or export of the aircraft? Must the aviation authority give notice? Can the operator block any proposed deregistration or export by an owner or mortgagee?

  • 13.

    Powers of attorney
    What are the principal characteristics of deregistration and export powers of attorney?

  • 14.

    Cape Town Convention and IDERA
    If the Cape Town Convention is in effect in the jurisdiction, describe any notable features of the irrevocable deregistration and export request authorisation (IDERA) process.

  • 15.

    Security document (mortgage) form and content
    What is the typical form of a security document over the aircraft and what must it contain?

  • 16.

    Security documentary requirements and costs
    What are the documentary formalities for creation of an enforceable security over an aircraft? What are the documentary costs?

  • 17.

    Security registration requirements
    Must the security document be filed with the aviation authority or any other registry as a condition to its effective creation or perfection against the debtor and third parties? Summarise the process to register a mortgagee interest.

  • 18.

    Registration of security
    How is registration of a security interest certified?

  • 19.

    Effect of registration of a security interest
    What is the effect of registration as to third parties?

  • 20.

    Security structure and alteration
    How is security over aircraft and leases typically structured? What are the consequences of changes to the security or its beneficiaries?

  • 21.

    Security over spare engines
    What form does security over spare engines typically take and how does it operate?

  • 22.

    Repossession following lease termination
    Outline the basic repossession procedures following lease termination. How may the lessee lawfully impede the owner’s rights to exercise default remedies?

  • 23.

    Enforcement of security
    Outline the basic measures to enforce a security interest. How may the owner lawfully impede the mortgagee’s right to enforce?

  • 24.

    Priority liens and rights
    Which liens and rights will have priority over aircraft ownership or an aircraft security interest? If an aircraft can be taken, seized or detained, is any form of compensation available to an owner or mortgagee?

  • 25.

    Enforcement of foreign judgments and arbitral awards
    How are judgments of foreign courts enforced? Is your jurisdiction party to the 1958 New York Convention?

  • 26.

    Taxes
    What taxes may apply to aviation-related lease payments, loan repayments and transfers of aircraft? How may tax liability be lawfully minimised?

  • 27.

    Exchange control
    Are there any restrictions on international payments and exchange controls in effect in your jurisdiction?

  • 28.

    Default interest
    Are there any limitations on the amount of default interest that can be charged on lease or loan payments?

  • 29.

    Customs, import and export
    Are there any costs to bring the aircraft into the jurisdiction or take it out of the jurisdiction? Does the liability attach to the owner or mortgagee?

  • 30.

    Captive insurance
    Summarise any captive insurance regime in your jurisdiction as applicable to aviation.

  • 31.

    Cut-through clauses
    Are cut-through clauses under the insurance and reinsurance documentation legally effective?

  • 32.

    Reinsurance
    Are assignments of reinsurance (by domestic or captive insurers) legally effective? Are assignments of reinsurance typically provided on aviation leasing and finance transactions?

  • 33.

    Liability
    Can an owner, lessor or financier be liable for the operation of the aircraft or the activities of the operator?

  • 34.

    Strict liability
    Does the jurisdiction adopt a regime of strict liability for owners, lessors, financiers or others with no operational interest in the aircraft?

  • 35.

    Third-party liability insurance
    Are there minimum requirements for the amount of third-party liability cover that must be in place?

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