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Aviation Working Group Cape Town – Canadian Ratification

Aviation Working Group Cape Town – Canadian Ratification. University of Toronto Toronto, Ontario April 29 – April 30, 2013. Practicalities II The International Registry Presented by: William B. Piels. Practicalities II: The IR. Preview of Presentation

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Aviation Working Group Cape Town – Canadian Ratification

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  1. Aviation Working GroupCape Town – Canadian Ratification University of Toronto Toronto, Ontario April 29 – April 30, 2013

  2. Practicalities IIThe International RegistryPresented by:William B. Piels

  3. Practicalities II: The IR Preview of Presentation (1) Generation II for International Registry -- Overview (2) Registry Changes Coming Into Effect July 2013 (3) Status and Description of Closing Room Revisions (4) Substantial Re-Write of Regulations (6th Edition)

  4. Generation II: Revamp of Registry Generation II • Ambitious Redesign of Registry Interface; Coincides With Major Infrastructure Upgrade • Phase 1: • Timing: (July 2013) • Content: Mix of Enhanced Operations/Install Missing Functions • Phase 2: • Closing Room and Other Items (Date TBD 2014?) • Substantial Revision of Regulations (6th Edition)

  5. Generation II, Phase 1: Summary

  6. Generation II, Phase 1: MOR • Enhanced Operation Change • Current Function: Register Object by Object • Multiple Object Registration: Batch Objects for Common Registration • Limitation -- Bi-Lateral Only (e.g., lessor/lessee separate from mortgagor/mortgagee)

  7. Closing Practices: Comparison to MOR 12 MINUTES Today 32 MINUTES MOR Closing Room 89 MINUTES 12 TRANSACTIONS 4 TRANSACTIONS 1 TRANSACTION

  8. Generation II, Phase 2: Summary

  9. Generation II, Phase 2: Closing Room • Chief Concept: A facility at the IR for assembling registrations and collecting consents in advance of the registrations becoming effective • Ancillary Concepts: • Assembled registrations are not searchable (not liens of record or prospective interests) • Multiple registrations will “go live” in the sequence designated and become searchable • Consent process is preserved, but consenting parties are able to view all related registration when they consent

  10. Closing Room Complete: Below is an illustration of how data may be structured and displayed in the CR. This is not the proposed interface.

  11. Generation II, Phase 2: Closing Room Con’t (3) Operational Points: (a) A “Coordinator” will control the Room (subject to transfer) (b) Coordinator will enter all registration information and invite parties to view; when complete, will “lock” to further editing (c) After a “lock”, IR automatically issues a link to relevant parties. Parties with consents rights automatically have viewing rights; others invited to view only if designated by coordinator (d) IR link/invitation includes “Pre-Registration Report” PDF

  12. Generation II, Phase 2: Closing Room Con’t (3) Operational Points, con’t: (e) Consent can be given or declined within 10 day (renewable) lock period. If parties do not consent, Coordinator may unlock (revoking all consents), modify, re-lock and proceed. (f) Coordinator is responsible for releasing all registrations for entry into the IR data base, once all consents have been collected and all fees have been paid. (g) Parties bear responsibility for comparing the “live registrations” to the “Pre-Registration Report” and notifying the Registrar of errors.

  13. 6th Edition to Regulations • 4th Edition Currently in Effect. The 5th Edition fully drafted and approved; will take effect with Phase 1 in 2013. • 6th Edition is an approved draft; includes regulations supporting the Closing Room and other changes in the way the IR functions • 6th Edition also includes over 500 other changes intended to: • Improve drafting clarity • Support provisions of the Treaty/Protocol • Conform the Regulations to Registry Practice

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