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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 May 2023 - onwards
Version 3 of 3

16. General duty of company.

(1) It shall be the general duty of the company -

(a) to conduct its affairs so as to ensure that the revenues of the company are not less than sufficient taking one year with another to -

(i) meet all charges and costs which are properly chargeable to its revenue account,

(ii) generate the capital it requires, and

(iii) remunerate its capital and pay interest on and repay its borrowings, and

(b) to conduct its business at all times in a cost-effective and efficient manner.

(1A)

(a) It shall be the duty of the company to provide such assistance and advice as the Minister may require it to provide for the Minister or any other person in connection with any of the Minister's functions relating to civil aviation.

(b) A requirement under paragraph (a) may be expressed as a continuing requirement in relation to a type of assistance or advice specified in the requirement.