TNAG-2836-FCO40-4089-Air-Service-Agreements-between-Hong-Kong-and-South-Korea-1993 — Page 11

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ARTICLE 5

Revocation or Suspension of Operating Authorisation

(1) Each Contracting Party shall have the right to revoke or suspend an operating authorisation for the exercise of the rights specified in Article 3(2) of this Agreement by an airline designated by the other Contracting Party, or to impose such conditions as exercise of those rights:

it may deem necessary on the

(a) (i) in the case of the Government of Hong

Kong, in any case where it is not

satisfied that substantial ownership and effective control of that airline

are vested in the Government of the

Republic of Korea or its nationals;

(ii)

in the case of the Government of the

Republic of Korea, in any case where it

is not satisfied that that airline is

incorporated and has its principal place of business in Hong Kong; or

(b) in the case of failure by that airline to comply with the laws or regulations of the Contracting Party granting those rights; or

(c) if that airline otherwise fails to operate in with the conditions prescribed under this

accordance

Agreement.

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