Appropriate financial standingE+W+S
2E+W+S
2[F1(1)Being of appropriate financial standing in relation to an application for, or holder of, a PSV operator’s licence consists in having available sufficient financial resources to ensure the establishment and proper administration of the business carried on, or proposed to be carried on, under the licence.E+W+S
[F2(2)An applicant for, or the holder of, such a licence authorising the use of vehicles for international operations shall not be considered to be of the appropriate financial standing unless he has available to him capital and reserves of an amount equal to or exceeding the aggregate of—
(a)9,000 Euro for the first or only vehicle which is to be or is authorised under the licence; and
(b)5,000 Euro for each additional vehicle which is to be or is so authorised.]]
Textual Amendments
F1By S.I. 1990/1851, reg. 2, Sch. para. 2 it is provided (subject to a saving in reg. 2(2) and with application as mentioned in reg. 2(3)) that the existing provisions of para. 2 shall become sub-para. (1) of that para. and that there shall be inserted para 2(2)
F2Sch. 3 para. 2(2) substituted (1.10.1999) by S.I. 1999/2431, reg. 3 (with reg. 6(1)(2))