AMC1 Article 16(3) Validity of the certificate

• ED Decision 2022/022/R found in: U-space (2021/664) (May 2024)

AMC1 Article 16(3) Validity of the certificate ED Decision 2022/022/R CRITERIA FOR THE ASSESSMENT OF THE FINANCIAL PERFORMANCE OF AN APPLICANT When assessing the operational and financial performance of an applicant, the competent authority or the Agency, as applicable, should ensure that the applicant: (a) is able to meet its financial obligations, such as fixed and variable operational costs or capital investment costs, and uses an appropriate cost-accounting system; and (b) demonstrate its ability through balance sheets and accounts, as applicable under their legal statute, and is regularly subject to an independent financial audit.