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The Public Service Vehicle Operators (Qualifications) Regulations 1990
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2. The existing provisions of paragraph 2 shall become sub-paragraph (1) of that paragraph and after that sub-paragraph there shall be inserted —
“(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 appropriate financial standing unless he has available capital and reserves of an amount equal to at least —
(a)3,000 European Currency Units multiplied by the number of vehicles which are to be or are used under the licence; or
(b)150 European Currency Units multiplied by the number of passenger seats in that number of vehicles,
whichever is the less.”
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