Convention on International Interests in Mobile Equipment

Chapter V - Other matters relating to registration

205

Article 25 - Discharge of registration

206

1. Where the obligations secured by a registered security interest or the obligations giving rise to a registered non-consensual right or interest have been discharged, or where the conditions of transfer of title under a registered title reservation agreement have been fulfilled, the holder of such interest shall, without undue delay, procure the discharge of the registration after written demand by the debtor delivered to or received at its address stated in the registration.

207

2. Where a prospective international interest or a prospective assignment of an international interest has been registered, the intending creditor or intending assignee shall, without undue delay, procure the discharge of the registration after written demand by the intending debtor or assignor which is delivered to or received at its address stated in the registration before the intending creditor or assignee has given value or incurred a commitment to give value.

208

3. Where the obligations secured by a national interest specified in a registered notice of a national interest have been discharged, the holder of such interest shall, without undue delay, procure the discharge of the registration after written demand by the debtor delivered to or received at its address stated in the registration.

209

4. Where a registration ought not to have been made or is incorrect, the person in whose favour the registration was made shall, without undue delay, procure its discharge or amendment after written demand by the debtor delivered to or received at its address stated in the registration.


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Convention on International Interests in Mobile Equipment

Chapter I - Sphere of application and general provisions

Chapter II - Constitution of an international interest

Chapter III - Default remedies

Chapter IV - The international registration system

Chapter V - Other matters relating to registration

Chapter VI - Privileges and immunities of the Supervisory Authority and the Registrar

Chapter VII - Liability of the Registrar

Chapter VIII - Effects of an international interest as against third parties

Chapter IX - Assignments of associated rights and international interests; rights of subrogation

Chapter X - Rights or interests subject to declarations by Contracting States

Chapter XI - Application of the Convention to sales

Chapter XII - Jurisdiction

Chapter XIII - Relationship with other Conventions

Chapter XIV - Final provisions

[Post Provisions]

Metadata

Manifest

Convention on International Interests in Mobile Equipment

Chapter V - Other matters relating to registration

Article 25 - Discharge of registration