| Commentary

45 Priority

| Commentary

45 Priority

A registered mortgage of an aircraft will have priority over any other mortgage of or charge on that aircraft, except for the following1:

  1. 45.1

        mortgages registered earlier in time2;

  2. 45.2

        mortgages created prior to 1 October 19723; and

  3. 45.3

        any possessory lien in respect of work done on the aircraft (whether before or after the creation or registration of the mortgage) on the express or implied authority of any persons lawfully entitled to possession of the aircraft or over any right to detain the aircraft under any Act of Parliament4.

Where the mortgagee is a body corporate, the provisions

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