(This note is not part of the Regulations)
These Regulations amend the Motor Vehicles (Third Party Risks) Regulations 1972 by altering the requirements as to the keeping of records of (i) policies of insurance and securities (and certificates thereof) issued under the Road Traffic Act 1988 and (ii) vehicles the use of which is exempt from the normal insurance requirement under section 144 of that Act.
The requirements are extended (in the case of insurance policies and securities) to include particulars of every person whose liability is covered by a policy or security and additional particulars of the vehicles whose use is covered. Records of old insurance policies and securities are required to be kept for a period of seven years after expiry. Copies of any records may be supplied to the Motor Insurers' Bureau or its nominated subsidiary in electronic form and kept by it on a database. In such cases the Bureau or its subsidiary must keep the copy records of expired policies and securities for the same seven-year period and disclose particulars of any record it holds to the Secretary of State or police on request.
A Regulatory Impact Assessment has been prepared and copies can be obtained from the Licensing, Roadworthiness and Insurance Division of the Department for Transport, Local Government and the Regions, Zone 2/07 Great Minster House, 76 Marsham Street, London SW1P 4DR (telephone number 020 7944 2463) or viewed on the DTLR website at www.dtlr.gov.uk. A copy has been placed in the library of both Houses of Parliament.