Quite what is meant by 'all privileges of the holder of a LAPL' is unclear - does that mean that the ATPL holder needs to maintain an SEP Class rating, but restricted to 2000 kg aircraft and no more than 4 PoB? Or does he/she maintain 'rolling' validity as for the LAPL? If so, what happens when he/she regains a Class 1 or Class 2 medical and has an expired SEP Class rating, but has been flying hundreds of hours within LAPL restrictions? Will he/she now have to be assessed for 'refresher flying' requirements and fly a renewal proficiency check? That would be madness...
Another poorly thought out Part-FCL regulation...