New Operator’s Licence Financial Requirements for 2013

Financial requirements for an Operator’s licence are now reviewed annually. This is in an attempt to address any impact of fluctuating exchange rates would have on financial standing for an Operator’s Licence.
To decide the financial requirements for Operator’s Licences each year, the EU regulation requires traffic commissioners to utilise the exchange rates as published in the Official Journal of the European Union on the first working day of the previous October
The financial standing requirements for a Standard Licence are due to change from 1st January 2013 to:

  • First vehicle £7,200
  • Each additional vehicle £4,200

The requirements for a Restricted Licence remain unchanged at £3,100 for the first vehicle and £1,700 for subsequent vehicles.
Jared Dunbar
Dyne Solicitors
 

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