Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) An exemption under Division 11.F.1 ceases:
(a) at the end of the day (no longer than 3 years after the day on which it commences) specified in the instrument of exemption as the day on which it ceases; or
(b) if no day is specified for that purpose in the instrument--3 years after it commences.
(2) An exemption under Division 11.F.2 ceases:
(a) at the end of the day (no longer than 12 months after the day on which it commences) specified in the instrument of exemption as the day on which it ceases; or
(b) if no day is specified for that purpose in the instrument--12 months after it commences.
(3) If an exemption is granted in relation to a particular aircraft, and, before the time at which the exemption would cease under subregulation (1) or (2), the aircraft ceases to be owned by the person who owned it at the time the exemption was granted, the exemption ceases at the time when the aircraft ceases to be owned by that person.