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General Information Brief

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Here you can find the general information brief document.

The Department of Civil Aviation - Bermuda

Aircraft and Aircraft Engine Register of Mortgages

4.1 - Registration of Mortgages or Rights over Aircraft and Engines

4.1.1 - The Mortgaging of Aircraft and Aircraft Engines Act 1999, the Mortgaging of Aircraft (Procedures) Regulations 1999, the Mortgaging of Aircraft Engines (Procedures) Regulations 1999 and the Mortgaging of Aircraft and Aircraft Engines (Fees) Regulations 1999 all came into effect in Bermuda on 1 July 1999.

4.1.2 - Under the above legislation, a Register of Aircraft Mortgages and a Register of Aircraft Engine Mortgages have been established in Bermuda. These are available to facilitate the registration of security interests in aircraft and aircraft engines.

4.1.3 - The Order, Part 1 Article 4(17) prevents the Governor from cancelling the registration of an aircraft entered in the Register of Aircraft Mortgages as having an undischarged mortgage unless all persons shown in the Register of Aircraft Mortgages as mortgagees of that aircraft have consented to the cancellation. The relationship between the Register of Aircraft Mortgages and the Register give the mortgagee increased security and asset protection.

4.1.4 - It is the policy of the Director that all Priority Notices and Entry of Aircraft Mortgage applications be submitted to the Director by an appropriately qualified Bermuda law firm. Forms for a Priority Notice, an Entry of Aircraft Mortgage, Change in Particulars and a Discharge of Registered Mortgage, are all available from the BDCA.

4.1.5 - Upon making an application for the registration of a mortgage of an aircraft or an aircraft engine the applicant shall pay:

  1. US$100, where the sum secured by the mortgage does not exceed US$100,000,
  2. US$200, where the sum secured by the mortgage exceeds $100,000 but does not exceed $ 5,000,000,
  3. US$400, where the sum secured by the mortgage exceeds $ 5,000,000 but does not exceed $ 20,000,000,
  4. US$800, where the sum secured by the mortgage exceeds $20,000,000.

4.1.6 - Where the mortgage to be registered does not specify the amount of the sum secured, the applicant shall pay a charge calculated as follows:

  1. where the maximum amount of the sum secured by the mortgage is specified, a charge shall be calculated in accordance with paragraph 1 according to the maximum:
  2. in any other case; US$800

4.1.7 - A complete copy of the Mortgaging of Aircraft and Aircraft Engines (Fees) Regulations 1999 may be obtained from the BDCA.