PART 2Leased aircraft
Approval for and restriction on use of leased aircraft17.
(1)
Save as provided in paragraph (3), where this paragraph applies the CAA must, subject to any conditions it thinks fit, issue an approval to an air carrier that holds an operating licence that it has granted.
(2)
Paragraph (1) applies where such an air carrier intends to enter into—
(a)
a dry lease agreement as lessor,
(b)
a dry lease agreement as lessee in circumstances where the CAA is satisfied that the aircraft may be used safely, or
(c)
a wet lease agreement in respect of an aircraft registered in the Community as lessee with a Community air carrier.
(3)
No approval is required under paragraph (1) where the CAA is required to approve the use of an aircraft pursuant to Annex III of Council Regulation (EEC) No 3922/91 of 16th September 1991 on the harmonisation of technical requirements and administrative procedures in the field of civil aviation7.