Here is my 2 Euro worth;
JAR-FCL Quotes;
"(5) PICUS (Pilot-in-command under
supervision)
Provided that the method of supervision
is acceptable to the Authority, a co-pilot may
log as PIC flight time flown as PICUS, when
all of the duties and functions of PIC on that
flight were carried out, such that the
intervention of the PIC in the interest of
safety was not required."
PA28s etc do not have co-pilots.
"(iii) The holder of an instructor
rating may log as pilot-in-command all
flight time during which he acts as an
instructor in an aeroplane."
Thus an instructor logs the time spent on the check out as command time.
"(iv) The holder of an examiner’s
authorisation may log as pilot-in-
command all flight time during which
he occupies a pilot’s seat and acts as an
examiner in an aeroplane."
Thus the examminer logs an examination flight as Pilot in Command. There is no mention of the result.
"(ii) The applicant for or the
holder of a pilot licence may log as
pilot-in-command time all solo flight
time and flight time as student pilot-in-
command provided that such SPIC time
is countersigned by the instructor."
Thus the applicant logs the flight time as SPIC - Student Pilot In Command.
If a qualified pilot requires a checkout then this is because they are unable to fly solo due to insurance or club rules. Thus a flight instructor is appointed to be the Pilot in command for the flight - not a licence requirement. If the flight instructor was not the pilot in command then the insurance would not be valid.
In that case, the qualified pilot being checked would log the time as SPIC as per above.
That column in old log books where we placed P/UT etc is redundant.
The reference is JAR-FCL 1.080
DFC