Section 294.50 - Cancellation, revocation, or suspension of registrationThe registration of a carrier subject to this part may be revoked, canceled, suspended, modified, or otherwise subjected to additional terms and conditions by the Department if:
(a) The carrier files with the Department a written notice that it is discontinuing operations;(b) The carrier is the holder of a section 41302 permit to perform large aircraft charters under the Agreement;(c) Substantial ownership or effective control is acquired by persons who are not(2) the Government of Canada, or(3) a combination of both;(d) The Government of Canada terminates or suspends authority it granted to the registrant to conduct charter air service between the United States and Canada.(e) The Agreement between the two countries is terminated;(f) The registrant fails to have proper insurance coverage, or fails to file or keep a current insurance certificate on file with the Department;(g) The registrant fails to comply with the terms, conditions, or limitations of this part;(h) The carrier's operations specifications issued by the FAA are suspended or terminated;(i) The Department finds that it is in the public interest to do so.ER-1257, 46 FR 52591, Oct. 27, 1981, as amended at 60 FR 43526, Aug. 22, 1995; 71 FR 49347 , Aug. 23, 2006