Air Transportation Regulations

24.1 (1) No air carrier shall operate a CPC unless the air carrier

• (a) holds a non-scheduled international licence valid for the proposed CPC; and

• (b) has been issued a program permit or is deemed to have been issued a small carrier charter permit in respect of the CPC, by the Agency.

(2) An air carrier who proposes to operate a CPC or a series of CPCs that use aircraft having an MCTOW greater than 35,000 pounds (15,900 kg) shall apply to the Agency for a program permit in respect of the CPC or series of CPCs.

(3) The Agency shall not consider an application referred to in subsection (2) unless the air carrier has a financial guarantee with a Canadian financial institution, in a standard form provided by the Agency, that provides that any advance payment in respect of the CPC is fully protected from the time it is received by the air carrier from the charterer.

(4) An air carrier referred to in subsection (2) shall, at least 30 days before the cancellation or termination of a financial guarantee referred to in subsection (3), file a copy of a new or renewed, as the case may be, financial guarantee with the Agency.