"The AIC mentioned earlier states no training for initial rating in privately owned ac"
Just a follow up, I can't see anything in the AIC to stop ab initio in a jointly owned aircraft.
http://www.ead.eurocontrol.int/eadba...2011-01-27.pdf
NATS | AIS - Home
Point 4 relates to non-EASA aircraft only:-
"Jointly-owned non-EASA aircraft
Note:
Training for the initial issue of an NPPL, PPL, CPL, IMC Rating, Instrument Rating or other 'ab initio' training is not permitted. The
intention is to allow individuals to pay for training that enables them to regain currency, renew a licence, learn a new skill (such as
short field landings), become familiar with a new type etc."