24.—(1) Subject to the approval of the CAA after the CAA has consulted with the Secretary of State, nothing in paragraph (2) of regulation 12 shall require the deletion from the United Kingdom register of aeroplanes which do not meet the standards of Chapter 3 of Volume 1 of Annex 16/1988 at an annual rate equivalent to more than 10% of the total civil subsonic jet fleet of a Community air carrier.
(2) Where the CAA has applied an equivalent exemption in respect of an aeroplane on the register of a third country which operated into the United Kingdom or Gibraltar before 27th April 1998 that exemption shall continue to have effect provided that the air carrier operating the aeroplane in question complies with the conditions subject to which the equivalent exemption was granted.
(3) For the purposes of paragraph (2) “equivalent exemption” means an exemption having effect equivalent to the effect of the provisions of paragraph (1).