I wouldn't mind knowing the definitive answer as I have an offer to buy a share of a Jodel (the offer is still open).
Although I have many more hours than necessary for the JAA CPL, I still need to ensure any hours will count towards the issue of a JAA ATPL (eventually!).
Without checking any documentation I would have thought that a Permit to Fly, whilst not necessarily a full CofA is still recognised by the CAA as a legal certificate for an aeroplane's fitness to fly...
If this isn't the case then how about the FAA's "Experimental" category of aeroplanes (a little like the Permit to Fly)?