Scope and Structure of the Registry
The international registry envisaged here would be one of general
application. That is to say, it would apply to all movables — tangible and
intangible — covered by an adopting State’s domestic secured transactions
law. However, a State could elect to carve out from the registry’s scope the
types of movables subject to a specialized registry under the law of that
State, such as aircraft, ships, railway rolling stock, motor vehicles, or
intellectual property. This reflects the fundamental principle that the
international registry would constitute the domestic secured transactions
registry for each adopting State. Of course in the case of a Contracting
State subject to the Cape Town Convention, the international registry of
general application would not cover objects, associated rights, or proceeds
covered by that convention.