(1)In this Part of this Act—
" certificate of insurance " and " certificate of security " have the meanings assigned to them by section forty-four of this Act.
" material ", in relation to any fact or particular, means of such a nature as to influence the judgment of a prudent insurer or giver of securities in determining whether he will take the risk or provide security, and, if so, at what premium or for what consideration, as the case may be, and subject to what restrictions and conditions ;
" policy of insurance " includes a covering note.
(2)Where the aircraft concerned has been bona fide demised, let or hired out for any period exceeding fourteen days to any other person by the owner thereof, and no pilot, commander, navigator or operative member of the crew of the aircraft is in the employment of the owner, this Part of this Act shall have effect as if for references therein to the owner there were substituted references to the person to whom the aircraft has been so demised, let or hired out.
(3)Part VI of this Act applies to this Part of this Act.