49 C.F.R. 49 CFR--PART 1548
Title 49 - Transportation
Effective Date(s): October 23, 2006 39. Add a new §1548.16 to read as follows: (a) Each indirect air carrier, or applicant to be an indirect air carrier, must ensure that each proprietor, general partner, officer, director, and owner of the entity has successfully completed a Security Threat Assessment under part 1540 subpart C of this chapter. Each indirect air carrier must comply with the requirements of this section not later than November 22, 2006. (b) For purposes of this section, owner means— (1) A person who directly or indirectly owns, controls, or has power to vote 25 percent or more of any class of voting securities or other voting interests of an IAC or applicant to be an IAC; or (2) A person who directly or indirectly controls in any manner the election of a majority of the directors (or individuals exercising similar functions) of an IAC, or applicant to be an IAC. (c) For purposes of this definition of owner— (1) Members of the same family must be considered to be one person. (i) Same family means parents, spouses, children, siblings, uncles, aunts, grandparents, grandchildren, first cousins, stepchildren, stepsiblings, and parents-in-law, and spouses of any of the foregoing. (ii) Each member of the same family, who has an ownership interest in an IAC, or an applicant to be an IAC, must be identified if the family is an owner as a result of aggregating the ownership interests of the members of the family. (iii) In determining the ownership of interests of the same family, any voting interest of any family member must be taken into account. (2) Voting securities or other voting interests means securities or other interests that entitle the holder to vote for or select directors (or individuals exercising similar functions).
Amendment from May 26, 2006
49 CFR--PART 1548
Amendment(s) published May 26, 2006, in 71 FR 30516
§ 1548.16 Security threat assessments for each proprietor, general partner, officer, director, and certain owners of the entity.
