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Relationship between MAC and Rail Protocols and Domestic Secured Transactions Law

Oxford September 10-11, 2019. Cape Town Convention Academic Project – 8th Conference. Relationship between MAC and Rail Protocols and Domestic Secured Transactions Law Chair : Professor Louise Gullifer , University of Oxford. Teresa Rodríguez de las Heras Ballell

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Relationship between MAC and Rail Protocols and Domestic Secured Transactions Law

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  1. Oxford September 10-11, 2019 Cape Town Convention Academic Project – 8th Conference Relationship between MAC and Rail Protocols and Domestic Secured Transactions Law Chair: ProfessorLouiseGullifer, University of Oxford Teresa Rodríguez de las Heras Ballell Professor of CommercialLaw, Universidad Carlos III de Madrid teresa.rodriguezdelasheras@uc3m.es Of Counsel, Andersen Tax & Legal

  2. MAC and Rail Protocols Points of interaction Scope: coveredequipment (HS / chosenAnnex/ definition rail) Limitations, gaps, and exclusionsfromProtocols TransactionscoveredbyProtocols Specialregimes and/orspecialregistriesexcludedfromdomestic general securedtransactionslaw Referral to applicabledomesticlawbytheProtocols (i.e. procedural laws) Declarations (opt-out) - including ‘internaltransactions’ declaration Domesticlaw in ContractingStates (domesticsecuredtransactions and relatedlaws)

  3. Overview MAC and Rail Protocols Points of interaction: selectedthemes Immovable-associatedequipment Scope Registration Domesticlaw in ContractingStates

  4. 1.- Scope • Notcoveredbylisted HS codes • Notcoveredby rail definition • Lowvalueequipment A). Types of equipment B). Limited to equipment C). TransactionscoveredbyProtocols

  5. 1.- Scope • Notcoveredbylisted HS codes • Notcoveredby rail definition • Lowvalue A). Types of equipment B). Limited to equipment C). TransactionscoveredbyProtocols • Not IP • Notallreceivables • Extent of proceeds

  6. 1.- Scope • Notcoveredbylisted HS codes • Notcoveredby rail definition • Lowvalue A). Types of equipment B). Limited to equipment • Not IP • Notallreceivables • Extent of proceeds • Separatedaccessories Art. I.2.a/b/c. MAC equipment” meansanobjectthatfallsunder a HarmonizedSystemcodelisted in Annex 1/2/3 to theProtocol, includingallinstalled, incorporatedorattachedaccessories, components and partswhich do notfallwithin a separateHarmonizedSystemcodelisted in thatAnnex, and all data, manuals and records relatingthereto

  7. 1.- Scope • Notcoveredbylisted HS codes / selectedAnnex/es • Notcoveredby rail definition • Pre-existingrights A). Types of equipment B). Limited to equipment C). TransactionscoveredbyProtocols • Not IP • Notreceivables • Extent of proceeds • Separatedaccesories • WidercoveragebytheProtocols • Specialregimes in domesticlawsforcertaintransactions • Treatment as securedtransactionsbydomesticlawsmayvary(leasing laws, reservation of title) formal orfunctionalapproach

  8. 2.- Registration • Sanctionfornotregistering in domesticregistry • Costs and benefits of doubleregistration • Choices of thecreditor • Effects in insolvency and remedies • Debtor-based v. asset-basedregistries A). Domestic and internationaleffects of registration: doubleregistration B). Interconnectionbetweendomesticregistries and IR C). Notices of sale

  9. 2.- Registration B). Interconnectionbetweendomesticregistries and IR Foster implementation of domesticelectronicregistries Interacting / interconnecting Replacingorcomplementing

  10. 2.- Registration Range of technologicalsolutions and interconnectionpossibilities… and CTC tenets B). Interconnectionbetweendomesticregistries and IR Annotations in domesticregistries Interface forsearch and access to data Real-time interconnectionbetweenregistries Domestic Registrar consultation/caveat (in somejurisdictions) Electronicplatforms Interacting / interconnecting

  11. 2.- Registration • Sanctionfornotregistering in domesticregistry • Costs of doubleregistration and duplication • Effects in insolvency and remedies A). Domestic and internationaleffects of registration: doubleregistration B). Interconnectionbetweennationalentrypoints and IR C). Notices of sale • Anyeffect in domesticlaw? • Anyeffectregardingacquisition of goodtitlebyotherparty? • Anypracticaleffect in domesticlaw?

  12. Oxford September 10-11, 2019 Relationship between MAC and rail protocols and domestic secured transactions law Chair: ProfessorLouiseGullifer, University of Oxford Teresa Rodríguez de las Heras Ballell Professor of CommercialLaw, Universidad Carlos III de Madrid teresa.rodriguezdelasheras@uc3m.es Of Counsel, Andersen Tax & Legal

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