Changes To Operator Licence Financial Standing Limits To Apply From 1st January 2014
The Senior Traffic Commissioner has reminded operator licence applicants and existing licence holders that they will be assessed against new financial standing levels from 01 January 2014, in line with the legislation.
The revised minimum financial standing levels for standard national and international licence holders and applicants have been announced by the Department for Transport.
Applications received after 01 December 2013 will be processed against the revised rates in anticipation of decisions on new licences and variations in the new year, when those revised financial levels are in place.
Standard national and international licence applicants will be required to demonstrate £7400 for the first vehicle and £4100 for each additional vehicle they request to be authorised. Existing operators making variation applications will be required to demonstrate financial standing for the existing and additional fleet authority against the new levels.
Any applicant or licence holder appearing at public inquiry before a traffic commissioner after 01 January 2014, where additional evidence of financial standing is requested, will be required to satisfy the new levels.
The rates for restricted licence holders and applicants remain the same as 2013; £3100 for the first vehicle and £1700 for each additional authorised vehicle.