| (1) | A holder of an ATO certificate who wishes to voluntarily close by ceasing operations shall notify the Director in writing of the planned date of closure. |
| (2) | An accountable executive of ATO shall— |
| (a) | surrender to the Director an ATO certificate and approved training OpSpec within 30 days of the closure date; |
| (b) | refund student fees in credit to its students; |
| (c) | retain a copy of student training file and inform each student in writing as to where the record of such training shall be held for the following 5 y ears; |
| (d) | hand over an original record of training to each student; |
| (e) | provide details to the Director of where the training records are to be retained for the following 5 years; and |
| (f) | pay any outstanding fees due to the Director at the time of closure. |
[Regulation 141.01.24 substituted by regulation 40 of Notice No. R.1503, GG45491, dated 15 November 2021 (Twenty-First Amendment of the Civil Aviation Regulations, 2021)]
