| (1) | Unless otherwise specified by the Director, an AOC shall remain valid and in force for an indefinite period: Provided that— |
| (a) | the operator submits 30 days prior to the anniversary date of initial issue, the appropriate application form and annual fee as prescribed in Part 187; |
[Regulation 121.06.4 substituted by regulation 13 of Notice No. R. 783, GG 39151, dated 1 September 2015 (Ninth Amendment of the Civil Aviation Regulations, 2015)]
| (b) | the operator successfully completes such audits and inspections as were carried out by the Director, including the satisfactory resolution of any findings reported to the operator by the Director; |
| (c) | the AOC is not otherwise suspended, cancelled or voluntarily surrendered to the Director; and |
| (d) | the operator continues to meet the requirements for issue of an AOC. |
| (2) | An AOC is not transferable to any other entity. |
| (3) | Where an operator is notified by the Director that its AOC has been suspended or cancelled, the operator shall return the AOC to the Director within seven days of such notification. |
