§ 380.25 Prospectus filing and related requirements.

A charter operator may organize and operate a Public Charter only in accordance with this part, and subject to the following conditions: (a) No charter operator shall operate, sell, receive money from any prospective participant for, or offer to sell or otherwise advertise a charter or series of charters until the Office of International Aviation, U.S. Air Carrier Licensing/Special Authorities Division , has accepted a Public Charter prospectus as described in § 380.28. (b) If within 10 days after the filing the Department notifies the charter operator that it has rejected the prospectus for noncompliance with this part, the prohibitions set forth in paragraph (a) of this section shall continue until the Department advises that it has accepted the prospectus. (c) The following amendments to a filed prospectus may be made: (1) The addition or cancellation of any flight; (2) A change in any flight, date, origin city or destination city; and (3) A change in or addition of any direct air carrier, securer, or depository bank. (d) The charter operator shall amend the prospectus to reflect any change described in paragraph (c) of this section. The amendment shall be filed in the manner and form used for the original prospectus. It shall become effective upon filing unless the operator is otherwise notified. (e) The charter operator shall notify the depository bank (if any) and the securer of any change described in paragraph (c) of this section not later than when filing a prospectus amendment to reflect the change. If the securer is unable to adjust the security agreement as required by the change, the Office of International Aviation, U.S. Air Carrier Licensing/Special Authorities Division shall be advised of this fact within 2 business days.