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18.—(1) Subject to paragraph (2), an operating licence is not valid for the purpose of enabling an air carrier that holds an operating licence granted by the CAA to use an aircraft that is not registered according to the decision of the Secretary of State under regulation 14.
(2) Paragraph (1) does not apply where—
(a)a Community air carrier has obtained prior approval for the use of an aircraft pursuant to a dry lease agreement or a wet lease agreement in accordance with regulation 17 or Article 13 of the EC Regulation, or
(b)by virtue of regulation 17(3) an approval is not required.
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