(as introduced in the National Assembly as a section 75 Bill; explanatory summary of bill published in Government Gazette No.
To provide for the application in the Republic of the Convention on the International Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on matters specific to Aircraft Equipment; to provide for the procedure to be followed with reference to ratification of additional Protocols to the Convention; to provide for the substitution of the Convention or Protocol if necessary; to authorize the Minister to make declarations, amendments to existing declarations or withdrawal of declarations, if necessary; and to provide for matters connected therewith.
"Depositary" means the International Institute for the Unification of Private Law (UNIDROIT), designated in terms of Article 62 as the Depositary.
"Minister" means the Minister of Transport.
"Protocol" means the Protocol to the Convention on International Interests in Mobile Equipment on matters specific to aircraft equipment, annexed hereto as Schedule 2 including any subsequent protocol or amendments or additions ratified or acceded to in terms of this Act.
"this Act" includes the Convention, Protocol and any regulations made in terms of the Protocol.
The Convention and Protocol shall, subject to the provisions of this Act, apply in the Republic.
The State President may by proclamation in the Gazette add to this Act any Schedule containing a Convention or Protocol, relating to international interests in mobile equipment, including aircraft objects, railway rolling stock and space assets, ratified on behalf of the Republic.
to ratify or cause to be ratified on behalf of the Republic any Convention or Protocol which may from time to time be adopted in substitution for the Convention or Protocol or any Convention or Protocol contemplated in subsection (2).
The Minister may from time to time make, amend or withdraw declarations made under the Convention or Protocol or make, amend or withdraw any declarations made under any Convention or Protocol contemplated in subsection (2), by publication of such declaration, amendment or withdrawal in the Government Gazette and by notifying the Depositary of such declaration, withdrawal or amendment in the appropriate form.
substitute for the Convention appearing in the appropriate Schedule to this Act the Convention that has been ratified under paragraph (b) of subsection 3 of this Act.