1167. Mortgage of aircraft.

There are statutory provisions1 relating to the mortgaging of aircraft registered in the United Kingdom2. Such an aircraft, or such an aircraft together with any store of spare parts for it, may be made security for a loan or other valuable consideration3.

The mortgagee or prospective mortgagee may apply4 to enter any mortgage of an aircraft5 or notice of intention to apply to enter a contemplated mortgage (a 'priority notice'), as the case may be, in the register of aircraft mortgages kept by the Civil Aviation Authority ('CAA')6, whereupon the CAA must enter the mortgage or priority notice in the