Document ID: chunk:federal_register_of_legislation:F2024C00980:reg:35
Version: federal_register_of_legislation:F2024C00980
Segment Type: reg
Provision Reference: reg 35
Character Range: 37539–38998

35  Proceeds of sale—claims for approval of security interest in aircraft

Notice inviting claims
 (1) For the purposes of section 68 of the Act, as soon as practicable after the sale of an aircraft, AA must publish a notice:
 (a) inviting persons claiming a security interest in the aircraft that was created before the date of sale of the aircraft to make a claim for approval of that interest in accordance with this section; and
 (b) stating that the claim for approval must be made before the end of a period, specified in the notice, ending at least 21 days after the date of the notice.
 (2) The notice must be published:
 (a) in a national newspaper or a newspaper circulating in each State, the Australian Capital Territory and the Northern Territory; and
 (b) if AA considers it necessary, for the purpose of drawing attention to the sale to the persons referred to in paragraph (1)(a), to publish a notice of the proposed sale in another newspaper—in that newspaper; and
 (c) on AA's website.

Requirements for claims
 (3) A claim for approval must:
 (a) be in writing signed by, or on behalf of, the claimant; and
 (b) set out particulars of the security interest, including:
 (i) when the interest was created; and
 (ii) when the debt secured by the interest was incurred; and
 (c) be given to AA, together with written evidence substantiating the nature and extent of the interest claimed, before the end of the period specified in the notice.