A NEW CFI FLIES FOR 4 MONTHS AS AN INSTRUCTOR PLT WITHOUT HAVING A SECOND CLASS MEDICAL CERTIFICATE AT OSH; WI.

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I AM CURRENTLY A NEWLY CFI FOR COMPENSATION OR HIRE. FOR 4 MONTHS I WAS OPERATING AS A CFI UNDER A SECOND CLASS MEDICAL CERTIFICATE WHICH HAD EXPIRED TO A THIRD CLASS MEDICAL CERTIFICATE MAKING IT ILLEGAL FOR ME TO FLY FOR COMPENSATION OR HIRE. DURING THE TIME I CONTINUED TO RECEIVE PAY FOR FLT INSTRUCTION; DUE TO A MISINTERP OF FAR PART 61.23(2)(I). I WAS UNDER THE IMPRESSION THAT I HAD 24 CALENDAR MONTHS TO ACT AS CFI UNDER A SECOND CLASS MEDICAL CERTIFICATE INSTEAD OF 12 CALENDAR MONTHS AS SPECIFIED IN 61.23(2)(I). UPON REVIEW OF MY MEDICAL CERTIFICATE; FAR PART 61.23; AND DISCUSSION WITH A FELLOW FLT INSTRUCTOR; I DETERMINED THAT I WAS NOT ACTING IN ACCORDANCE WITH THE SPECS OF MY COMMERCIAL PLT CERTIFICATE DUE TO A LACK OF A CURRENT SECOND CLASS MEDICAL CERTIFICATE. ALL FLTS CONDUCTED WERE LEGAL IN ACCORDANCE TO FAR PARAGRAPHS 61 AND 91; IE; FLT SAFETY WAS NOT COMPROMISED AT ANY TIME DURING FLT TRAINING; AND ALL STUDENT HOLD PVT PLT CERTIFICATES; ARE CERTIFIED IN ACFT TYPE; MAKE AND MODEL; AND ARE APPROVED TO ACT AS PIC OF THE ACFT UNDER THOSE CURRENT FLT CONDITIONS (VFR). NO FLTS WERE CONDUCTED IN ACTUAL IMC; AND NO ENDORSEMENTS FOR FURTHER CERTIFICATES OR RATING WERE GIVEN BY ME. ALL THIS BEING SAID; CONTINUING TO BE PAID FOR FLT INSTRUCTION WAS NOT LEGAL BTWN THE DATES LISTED ABOVE. CONTINUAL REVIEW OF THE FAR/AIM AND MAINTAINING A CURRENT MEDICAL CERTIFICATE APPROPRIATE TO SPECIFIC FLT REQUIREMENTS WILL ASSURE THAT THIS SIT DOES NOT OCCUR AGAIN.