(3) On the basis of a medical examination pursuant to subregulation (2), the Authority or any person approved by the Authority as competent to do so may issue to the holder of the licence, rating or authorization, a medical certificate subject to the requirements of Part 2 of the Schedule and such conditions as the Authority thinks fit, as being medically fit to perform the functions to which the licence, rating or authorization relates and the medical certificate shall be valid for such period as is therein specified and shall be deemed to form part of the licence, rating or authorization.