Except as provided in paragraph (b) of this section, each air navigation certificate of “Lawful Authority to Operate a True Light” is hereby revoked, and each application therefor is hereby terminated.
Paragraph (a) of this section does not apply to—
A certificate issued to a Federal-Aid Airport Program sponsor who was required to apply for that certificate under regulations then in effect, and who has not surrendered that certificate under § 151.86(e) of this chapter; or
An application made by a Federal-Aid Airport Program sponsor who was required to make that application under regulations then in effect, and who has not terminated that application under § 151.86(e) of this chapter.
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