A flight is a commercial operation flight1if it is a flight in respect of which valuable consideration2 has been given or promised for the carriage of passengers and which is for the purpose of:
(1) the dropping of persons by parachute and which is made under and in accordance with the terms of a parachuting permission granted by the Civil Aviation Authority ('CAA')3;
(2) positioning the aircraft for such a flight as is specified in head (1) and which:
(a) is made with the intention of carrying out such a flight
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