The Civil Aviation Authority ('CAA')1 must refuse to grant an accreditation as an accredited body2 or a variation to such an accreditation unless:
(1) the applicant is an ATOL holder3; and
(2) the CAA is satisfied that the applicant's:
(a) organisation, staffing, financial and other arrangements4; and
(b) conditions of membership and its arrangements for supervising its members5,
(3) are such that a person dealing with a member of the accredited body will receive a level of protection which is equivalent to the one they would receive if dealing similarly with an ATOL holder that is not an accredited
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