The Civil Aviation Authority ('CAA')1 must refuse to grant an ATOL2 if the CAA is not satisfied that the applicant is a fit person to make available flight accommodation3. The CAA may refuse to grant an ATOL or a variation to an ATOL if the CAA is not satisfied:
(1) that the applicant is competent to make available flight accommodation4;
(2) that the resources of the applicant and the financial arrangements made by the applicant are adequate for discharging the actual and potential obligations in respect of the activities in which
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