ABSTRACT
This chapter looks at the principal matters covered by the Draft Protocol and how, if the Draft Protocol enters into force, the new legal regime would work. International interests in mobile equipment may be registered on relevant international registry which is accessible online 24 hours a day, seven days a week. The conflicts of law rule of lex situs provides that the creation of an interest in property must be valid in accordance with the applicable law where the property is located at the time of the creation of interest. States bear international responsibility for national activities in outer space whether such activities are carried on by governmental agencies or by non-governmental entities. If possession and control of a satellite is transferred to a lender or third party, this may also raise national security, technology transfer and export control concerns. The Draft Protocol seeks to apply and adapt the Convention to the financing of space assets and the unique environment.
