[Federal Register Volume 62, Number 247 (Wednesday, December 24, 1997)]
[Notices]
[Pages 67427-67428]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33626]
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DEPARTMENT OF STATE
[Public Notice No. 2669]
Proposed Unidroit Convention and its Aircraft Protocol Meeting
Notice
AGENCY: Department of State.
ACTION: Notice is hereby given of an Advisory Committee meeting to be
held on Thursday, February 26 starting at 9:00 a.m. in the Civil
Aeromedical Institute auditorium, Room 254, located at 6500 S.
MacArthur Blvd, Oklahoma City, Oklahoma. The meeting will end at or
before 1:00 p.m. on February 26. There may be an afternoon session from
2:00 p.m. to 5:00 p.m. for further discussion.
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Attendence: The meeting is open to the public, free of charge, and
is limited to available seating. It may be of interest to persons
associated with the selling, leasing, and financing of aircraft and
aircraft engines, including persons who search title, give title
opinions, submit conveyances for recordation to the FAA Aircraft
Registry, or otherwise participate in aircraft financing.
Nature: The meeting is intended only to provide information. No
formal record will be made. No written comments will be accepted from
the audience.
Agenda:
(1) Introductory remarks.
(2) Purpose of UNIDROIT Convention.
(3) Status of actions taken (UNIDROIT Convention and Aircraft
Protocol).
(4) Summary of UNIDROIT Convention with emphasis on registration of
international interests.
(5) Summary of Aircraft Protocol.
(6) Relationship of UNIDROIT Convention to existing laws and
treaties.
(7) Question and Answer Period.
Background: The United States Government, through the United States
Department of State, has been participating with other nations in
studying a proposed multilateral convention (UNIDROIT Convention) to
protect international secured interests in mobile equipment, including
aircraft.
A preliminary draft of the UNIDROIT Convention will be submitted to
the UNIDROIT Governing Council in early 1998. Thereafter, it is
expected that the draft will be circulated to States to determine
whether to proceed to intergovernmental negotiations to conclude the
Convention.
As proposed, the UNIDROIT Convention would not take effect unless a
protocol has been adopted for a specific category of mobile objects. In
that regard, UNIDROIT's Aircraft Equipment Protocol Group has completed
a preliminary draft protocol
[[Page 67428]]
which would pertain to certain large airframes and large helicopters,
and jet and turbine engines.
The UNIDROIT Convention and Aircraft Equipment Protocol together,
when and if adopted and enacted into law by contracting states would
provide a comprehensive international system to protect leasing and
financing interests. Significant features might include default
remedies, priorities, and establishment of an international
registration system to register (record) international consensual
interests, non-consensual interests, assignments, prospective
assignments, and subordinations.
It is anticipated that the international registration system would
be primarily an electronic notice system. As proposed, the
international registration system is not intended to interfere with
countries' existing national registration and recordation systems
(e.g., Parts 47 and 49 of the Federal Aviation Regulations).
FOR FURTHER INFORMATION CONTACT:
Joseph R. Standell, Aeronautical Center Counsel, Federal Aviation
Administration, P.O. Box 25082, Oklahoma City, OK 73125, telephone
number (405) 954-3296; fax number (405) 954-4676.
Dated: December 17, 1997.
Harold S. Burman,
Executive Director, Secretary of State's Advisory Committee on Private
International Law, United States Department of State.
[FR Doc. 97-33626 Filed 12-23-97; 8:45 am]
BILLING CODE 4701-08-M
