So it looks like an aircraft can be “taken to be employed in private operations” when flying or operating for the purpose of, or in the course of one of the operations listed in with CAR 2(7)(d) and at the same time those operations may have to be authorised by an AOC? You have reached regulatory nirvana, andrewr! Private operations that have to be authorised by an AOC!
I know just the place where you could engage in busy work indefinitely.
And what of the charity airline that does not engage in commercial activities? Bill Gates buys jumbo jets and starts scheduled services between Sydney and Melbourne for poor people for no charge to anyone. Bill’s just burning his billions. AOC or no AOC?