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Institute of Transport Administration

The Old Studio,
25 Greenfield Road
Westoning, Beds MK45 5JD

t: 44 (0)1525 634940
m: 44 (0)7768 303588
e: director@iota.org.uk

 
 
 
 
 
 

News

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Senior TC outlines financial standing options for standard operators

22 Oct 2019

Revised guidance from the traffic commissioners

The traffic commissioners understand that lorry, bus and coach operators may need to manage the short term impact if the UK exits the EU without a deal.

In that period, some operators may not be able to satisfy the financial standing requirement.

That’s why the Senior Traffic Commissioner is planning to provide further guidance on financial standing, should the UK leave the EU without a deal.

If that happens, the Senior TC will ask commissioners to approve applications for a period of grace from standard operators who aren’t able to meet the required levels of financial standing.

The guidance will be in effect for six months and apply to cases where there are no outstanding road safety issues.

The amendments will also provide advice to operators on the steps to take when requesting a period of grace.

Hauliers and commercial drivers will need new documents in a no deal Brexit. Check www.gov.uk/Brexit-hauliers.