| (1) | Unless otherwise specified by the Director, an air operator certificate (AOC) shall remain valid and in force as long as— |
| (a) | the operator meets the requirements for issue of an AOC; |
| (b) | 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 127.06.4(1)(b) substituted by regulation 14 of Notice No. R. 783, GG 39151, dated 1 September 2015 (Ninth Amendment of the Civil Aviation Regulations, 2015)]
| (c) | 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; and |
| (d) | the AOC is not suspended, cancelled or voluntarily returned to the Director. |
| (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. |
