26.—(1) Only the following persons are qualified to hold a legal or beneficial interest by way of ownership in an aircraft registered in the United Kingdom or a share in such an aircraft—
(a)the Crown in right of Her Majesty's Government in the United Kingdom and the Crown in right of the Scottish Administration;
(b)Commonwealth citizens;
(c)nationals of any EEA State;
(d)British protected persons;
(e)bodies incorporated in some part of the Commonwealth and having their principal place of business in any part of the Commonwealth;
(f)undertakings formed in accordance with the law of an EEA State which have their registered office, central administration or principal place of business within the European Economic Area; or
(g)firms carrying on business in Scotland (and in this sub-paragraph, “firm” has the same meaning as in the Partnership Act 1890 M1).
(2) If a person other than a person qualified under paragraph (1) holds a legal or beneficial interest by way of ownership in an aircraft, or a share in an aircraft, the CAA may register the aircraft in the United Kingdom if it is satisfied that the aircraft may otherwise be properly registered.
(3) If an unqualified person has had an aircraft registered under paragraph (2) that person must not cause or permit the aircraft to be used for the purpose of commercial air transport while it is so registered.
(4) If an aircraft is chartered by demise to a person qualified under paragraph (1) the CAA may, whether or not an unqualified person is entitled as owner to a legal or beneficial interest in the aircraft, register the aircraft in the United Kingdom in the name of the charterer by demise if it is satisfied that the aircraft may otherwise be properly registered.
(5) Subject to the provisions of this Part, an aircraft registered under paragraph (4) may remain registered during the continuation of the charter.