EXEMPTION FROM SUBSECTION 203.07(2) OF THE CANADIAN AVIATION REGULATIONS

Pursuant to section 5.9(2) of the Aeronautics Act and after taking into account that the exemption is in the public interest and is not likely to affect aviation safety, I hereby exempt Prism Helicopters Ltd. of 702, 11731 Baynes Road, Pitt Meadows Airport, Pitt Meadows, B.C., V3Y 2B3, from the requirements set out in subsection 203.07(2) of the Canadian Aviation Regulations (CARs) that no Canadian air operator shall lease to foreign air operators, a number of aircraft that exceeds 25 per cent of the total number of Canadian aircraft registered to that Canadian air operator.

Purpose

The purpose of this exemption is to allow Prism Helicopters Ltd. to lease more than 25% of their Canadian registered aircraft to Prism Helicopters Inc. a company based in the United States at Thunder Road, P. O. Box 872807, Wasilla, Alaska, U.S.A 99687, and a subsidiary of Prism Helicopters Ltd., under the terms and conditions of Canadian leasing authorizations based on lease agreements for each specific aircraft between Prism Helicopters Ltd. and Prism Helicopters Inc.

Application

This exemption applies to aircraft registered in Canada to Prism Helicopters Ltd. in accordance with the terms and conditions of the lease agreements between Prism Helicopters Ltd. and Prism Helicopters Inc.

Conditions

This exemption is subject to the following conditions:

1. A completed LF-2 leasing form Application to Authorize a Leasing Operation Involving a Foreign Air Operator Lessee and a Canadian Air Operator Lessor, shall be submitted by the lessor for each aircraft subject to a lease interchange between the Canadian company, Prism Helicopters Ltd. and the American subsidiary company, Prism Helicopters Inc., along with all documentation that confirms compliance with Subpart 203 and Standard 223.03(2) of the Canadian Aviation Regulations, in order to obtain a leasing authorization for that specific aircraft, and the lessor and lessee will meet all the conditions governing the operation that are necessary to ensure aviation safety as set out in that authorization.
2. The aircraft shall be registered in Canada to Prism Helicopters Ltd.
3. The aircraft shall be in the legal custody and control of Prism Helicopters Inc.
4. The aircraft shall not be made the subject of another lease during the term of the lease agreement.
5. Prism Helicopters Ltd. shall hold a Canadian operator certificate issued in respect of the aircraft type that is being leased.
6. A copy of this exemption shall be attached to the certificate of registration and leasing authorization and carried on board each aircraft subject to the lease interchange.

Validity

This exemption is valid from the date of signing of this exemption until the earliest of:

1. May 31, 2010, 23:59 EDT;
2. The date on which the lease agreement is cancelled;
3. The date on which any condition specified in the exemption is not complied with; or
4. The date on which the exemption is cancelled in writing by the Minister, where he is of the opinion that it is no longer in the public interest or is likely to affect aviation safety.

Dated at Ottawa, on the 20^th day of May, 2005, on behalf of the Minister of Transport.

Original signed by

Merlin Preuss
Director General
Civil Aviation

Date de modification :

2006-01-2