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The Licensing of Operators and International Road Haulage (Amendment etc.) (EU Exit) Regulations 2019 has used the power set out in the European Union Withdrawal Act 2018 to amend Article 7 of EC1071 so that the rate of financial standing to be applied to the first and each additional vehicle is set in Sterling instead of Euros.
This means that the previously advised 2021 financial standing levels for standard operator licence holders and applicants has changed.
The rates that will now come into effect on 1 January 2021 are:
1st vehicle: £8000 (previously advised as £8200)
Each additional vehicle: £4500 (previously £4550)
The Senior Traffic Commissioner's Statutory Document No. 2 on Finance has been updated to reflect this change.
There will be no change at the current time to the rates of finance which must be available to support a restricted licence or application.
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