Abstract
The purpose of this article is to analyze the specifics of qualification of objects, the regulation of rights to which is devoted to the new Protocol to the Convention on international interests in mobile equipment on matters specific to mining, agricultural and construction equipment. Methodology: After the analysis, the study uses generalization method to compile comprehensive view on approaches enshrined in the Convention and the Protocol. Results: Protocol to the Convention on international interests in mobile equipment on matters specific to mining, agricultural and construction equipment establishes a new flexible approach, taking into account the specifics of the regulation of rights to these types of equipment, namely, introducing a special category “immovable-associated equipment”. This approach makes it possible to establish a balance between the international interest in the equipment and the interest arising under the internal law of the state where the equipment is located. Conclusions: The Protocol on matters specific to mining, agricultural and construction equipment contains a flexible approach to qualifications for mining, agricultural and construction machines, which could help reduce the number of conflicts of laws and improve the conditions for cross-border commercial activities in this area.
Highlights
In the context of the ongoing changes in social relations, including the intensification of cross-border circulation of various types of goods and equipment and an increase in the number of contracts concluded between parties from different states, as a result of which it becomes possible to open a larger number of new high-tech industries, attention to conflict and material legal regulation of security transactions, the subject of which is machinery and equipment
In terms of the qualifications of types of equipment, Protocol on matters specific to mining, agricultural and construction equipment differs from all other Protocols to the 2001 Cape Town Convention
A partial departure from the criteria specified in article 51, paragraph 1, of the Cape Town Convention was deemed justified for the purposes of qualifying agricultural, mining and construction equipment
Summary
In the context of the ongoing changes in social relations, including the intensification of cross-border circulation of various types of goods and equipment and an increase in the number of contracts concluded between parties from different states, as a result of which it becomes possible to open a larger number of new high-tech industries, attention to conflict and material legal regulation of security transactions, the subject of which is machinery and equipment The protocol is intended to provide favorable conditions for the implementation of cross-border commercial activities related to security transactions concluded with respect to these types of equipment
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