China implements Cape Town Treaty
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TheCivil Aviation Administration of China (CAAC) says in a statement that thecountry is adopting the Cape Town Treaty with effect from 1 June.
LastOctober, China’sstate-run news media disclosed that Chinese lawmakers were working to ratifythe treaty.
TheCape Town Treaty creates international standards for registration of ownership,security interests, leases and conditional sales contracts.
Itis helpful to aircraft leasing companies because it provides legal remedies,such as aircraft repossession, for default on payments.
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