Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005

VersionNo. 005

Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005

S.R. No. 164/2005

Versionincorporating amendments as at
27 September 2011

table of provisions

RegulationPage

1Objectives

2Authorising provisions

3Commencement

4Definitions

5Determination of area

6Authorisation to trade in taxi-cab licences

7Specification of exchanges

8Specification of dealings

9Specification of information

10Exemptions

11Records relating to approved persons

12Records relating to dealings

13Requirements in relation to records

14Identification numbers

15Transitional provision—regulatory instruments

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ENDNOTES

1. General Information

2. Table of Amendments

3. Explanatory Details

VersionNo. 005

Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005

S.R. No. 164/2005

Versionincorporating amendments as at
27 September 2011

Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005

S.R. No. 164/2005

1Objectives

The objectives of these Regulations are—

(a)to authorise persons to trade in taxi-cab licences; and

(b)to facilitate the operation of an orderly, transparent and efficient market for the transfer of, and the assignment of the right to operate vehicles under, certain taxi-cab licences.

Reg.2 (Heading) amendedby S.R. No. 74/2011 reg.5(1).

Reg. 2 amendedby S.R. Nos74/2011 reg.5(2), 106/2011 reg.5.

2Authorising provisions

These Regulations are made under sections 162 and 318 of the Transport (Compliance and Miscellaneous) Act 1983.

3Commencement

These Regulations come into operation on 1January 2006.

4Definitions

r. 4

In these Regulations—

Reg. 4 def.of
Act amendedby S.R. No. 106/2011 reg.6.

Act means the Transport (Compliance and Miscellaneous) Act 1983;

dealing means a directly negotiated dealing or a market dealing;

dealing related information means—

(a)in respect of every market dealing and directly negotiated dealing—

(i)the number of the designated taxicab licence that is the subject of the dealing;

(ii)the area within which a vehicle may be operated under the designated taxi-cab licence;

(iii)if the agreement for the transfer of the designated taxi-cab licence or the assignment of the right to operate a vehicle under the designated taxi-cab licence includes a condition affecting the type of service to be provided under the licence or the vehicle which may be operated under the licence, information that describes the nature and effect of the condition;

(b)in respect of a market dealing for the transfer of a designated taxi-cab licence—

(i)a statement to the effect that the designated taxi-cab licence is available for transfer;

(ii)the asking consideration for that transfer expressed as a total monetary amount;

(iii)any information required under the relevant rules referred to in regulation 9 about the progress of the dealing;

(iv)the final agreed consideration for that transfer expressed as a total monetary amount;

(c)in respect of a market dealing for the assignment of the right to operate a vehicle under a designated taxi-cab licence—

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(i)a statement to the effect that the right to operate a vehicle under the designated taxi-cab licence is available for assignment;

(ii)the asking consideration for the assignment of that right expressed as a monthly assignment fee;

(iii)any information required under the relevant rules referred to in regulation 9 about the progress of the dealing;

(iv)the final agreed consideration for the assignment of that right expressed as a monthly assignment fee;

(d)in respect of a directly negotiated dealing for the transfer of a designated taxi-cab licence, the final agreed consideration for that transfer expressed as a total monetary amount;

(e)in respect of a directly negotiated dealing for the assignment of the right to operate a vehicle under a designated taxi-cab licence, the final agreed consideration for the assignment of that right expressed as a monthly assignment fee;

designated taxi-cab licence means a taxi-cab licence the conditions of which permit the taxi-cab to operate wholly within an area determined under regulation 5;

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directly negotiated dealing means the negotiations for, and completion of, an agreement for—

(a)the transfer of a designated taxi-cab licence; or

(b)the assignment of the right to operate a vehicle under a designated taxi-cab licence—

if all of the negotiations for the agreement are conducted solely by the parties to that agreement;

exempted dealing means a dealing exempted under regulation 10(a);

exempted information means dealing relatedinformation exempted under regulation10(b);

externally-administered body corporate has the same meaning as in the Corporations Act;

insolvent under administration means—

(a)a person who is an undischarged bankrupt; or

(b)a person for whom a debt agreement has been made under Part IX of the Bankruptcy Act 1966 of the Commonwealth (or the corresponding provisions of the law of another jurisdiction) if the debt agreement has not ended or has not been terminated; or

(c)a person who has executed a deed of arrangement under Part X of the Bankruptcy Act 1966 of the Commonwealth (or the corresponding provisions of the law of another jurisdiction) if the terms of the deed have not been fully complied with; or

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(d)a person whose creditors have accepted a composition under Part X of the Bankruptcy Act 1966 of the Commonwealth (or the corresponding law of another jurisdiction) if a final payment has not been made under that composition;

market dealing means the negotiations for, and, if applicable, the completion of, an agreement for—

(a)the transfer of a designated taxi-cab licence; or

(b)the assignment of the right to operate a vehicle under a designated taxi-cab licence—

if any of the negotiations for the agreement constitute trading in the designated taxi-cab licence;

specified exchange or system means a securities exchange or other system specified under regulation 7(1)(a);

specified method or rules means a method or rules specified under regulation 7(1)(b);

taxi-cab has the same meaning as in section86(1) of the Act;

taxi-cab licencehas the same meaning as in section 86(1) of the Act;

trade has the meaning given to it under section150A(2) of the Act;

unique identification number means a number assigned under regulation 12(1) or a number assigned under a specified method or rules.

Reg.5 amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.6(1).

5Determination of area

r. 5

The licensing authority may, by notice published in the Government Gazette, determine an area for the purposes of the definition of designated taxi-cab licence.

Note to reg.5 insertedby S.R. No. 74/2011 reg.6(2).

Note

The licensing authority is defined in section 2(1) of the Transport (Compliance and Miscellaneous) Act 1983 to mean the Secretary to the Department of Transport.

6Authorisation to trade in taxi-cab licences

The following persons are authorised to trade intaxi-cab licences for the purposes of section150A of the Act—

(a)if there is a specified exchange or system or a specified method or rules, a person who is approved under that specified exchange or system or specified method or rules to trade in designated taxi-cab licences and who trades in those licences in accordance with (as the case requires)—

(i)the rules of that exchange or system; or

(ii)that method or those rules;

(b)if there is nospecified exchange or system or specified method or rules, a person who trades in designated taxi-cab licences and who is not—

(i)in the case of a natural person, an insolvent under administration;

(ii)in the case of a corporation, an externally-administered body corporate;

(c)a person who trades in taxi-cab licences that are not designated taxi-cab licences and who is not—

(i)in the case of a natural person, an insolvent under administration;

(ii)in the case of a corporation, an externally-administered body corporate.

Reg.7 (Heading) amendedby S.R. No. 41/2008 reg.4(a).

7Specification of exchanges

r. 7

Reg.7(1) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(1).

(1)The licensing authority may, by notice published in the Government Gazette, specify—

(a)a securities exchange or other system; or

(b)a method or rules—

for the purposes of these Regulations.

Reg.7(2) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(1).

(2)Without limiting subregulation (1), in specifying a securities exchange or other system the licensing authority may have regard to the rules which will apply in the securities exchange or system including—

(a)the offer and bid processes and business rules which will apply;

(b)the hours during which trading may be conducted;

(c)the eligibility and conduct requirements for approval to trade in designated taxi-cab licences;

(d)details of any trading fees and charges and any restrictions on the number of persons who may be approved to trade in designated taxi-cab licences;

(e)disciplinary and appeal processes applicable to persons who have applied for approval or have been approved to trade in designated taxi-cab licences;

(f)the rights, liabilities and obligations under the rules of persons approved to trade in designated taxi-cab licences;

(g)the arrangements proposed by the person who is operating, or will operate, the securities exchange or system to ensure that operations are orderly and that trading is conducted in compliance with the rules;

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(h)proposed pro-forma contracts between the person who is operating, or will operate, the securities exchange or system and persons approved to trade in designated taxi-cab licences; and

(i)any other fees and charges applicable to the operation of the securities exchange or system.

(3)The specification under subregulation (1)(a) of a specified exchange or system may be—

r. 7

Reg.7(3)(a) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(2).

(a)made subject to such conditions as the licensing authority thinks fit;

(b)for an indefinite period or a periodspecified in the notice;

Reg.7(3)(c) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(2).

(c)revoked by thelicensing authority, by notice in writing, at any time if—

(i)the person operating the specified exchange or system requests that the specification be revoked; or

Reg.7(3)(c)(ii) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(2).

(ii)in the opinion of thelicensing authority, the specified exchange or system has ceased to operate or is likely to cease to operate in the immediate future; or

(iii)the specified exchange or system is operating or has operated in breach of a condition to which the specification is subject; or

Reg.7(3)(c)(iv) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.7(2).

(iv)in the opinion of thelicensing authority, the specified exchange or system is not operating satisfactorily for the purpose of achieving the objectives specified in regulation 1(b).

(4)The revocation of a specification takes effect on a date specified in the notice of revocation which must be not less than 2 weeks after the notice has been given.

8Specification of dealings

r. 8

(1)The holder of a designated taxi-cab licence which is the subject of a market dealing or a directly negotiated dealing (other than an exempted dealing) must take all reasonable steps to ensure that the dealing is conducted, recorded or disclosed in accordance with—

(a)the rules of any specified exchange or system; or

(b)any specified method or rules.

(2)A person authorised under regulation 6(a) who is engaged by a party to a market dealing or a directly negotiated dealing (other than an exempted dealing) for the purposes of that market dealing or directly negotiated dealing must ensure that the dealing is conducted, recorded or disclosed in accordance with—

(a)the rules of the specified exchange or system under which the person has been approved to trade in designated taxi-cab licences; or

(b)the specified method or rules under which the person has been approved to trade in designated taxi-cab licences.

Penalty:20 penalty units.

9Specification of information

(1)The holder of a designated taxi-cab licence which is the subject of a market dealing or a directly negotiated dealingmust take all reasonable steps to ensure that dealing related information (other than exempted information) is recorded or disclosed in accordance with—

(a)the rules of any specified exchange or system; or

(b)any specified method or rules.

(2)A person authorised under regulation 6(a) who is engaged by a party to a market dealing or a directly negotiated dealingfor the purposes of that market dealing or directly negotiated dealingmust ensure that dealing related information (other than exempted information) isrecorded or disclosed in accordance with—

(a)the rules of the specified exchange or system under which the person has been approved to trade in designated taxi-cab licences; or

(b)the specified method or rules under which the person has been approved to trade in designated taxi-cab licences.

Penalty:20 penalty units.

Reg.10 amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.8.

10Exemptions

The licensing authority may, in writing, determine that—

Reg.10(a) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.8.

(a)a dealing is not a dealing that must be conducted, recorded or disclosed in accordance with regulation 8 if the licensing authority considers that the dealing is not an arm's length dealing or a commercial dealing; and

(b)dealing related information in respect of a dealing referred to in paragraph (a) is not information that must be recorded or disclosed in accordance with regulation 9.

11Records relating to approved persons

r. 10

A person who operates, or who has operated, a specified exchange or system must keep the following records—

(a)a register containing the name of every person approved under the rules of that specified exchange or system to trade in designated taxi-cab licences in accordance with those rules; and

(b)a copy of every application by a person to be approved to trade in designated taxi-cab licences; and

(c)the information supplied by a person referred to in paragraph (b) which demonstrates that the person satisfies the relevant eligibility requirements under the rules of the specified exchange or system to trade in designated taxi-cab licences in accordance with those rules; and

(d)details of any complaints received about the conduct of a person approved under the rules of that specified exchange or system to trade in designated taxi-cab licences in accordance with those rules; and

(e)details of the outcome of any compliance audits, investigations or disciplinary action in relation to a person approved under the rules of that specified exchange or system to trade in designated taxi-cab licences in accordance with those rules.

Penalty:20 penalty units.

12Records relating to dealings

r. 12

(1)A person who operates a specified exchange or system must assign a unique identification number to—

(a)the proposed transfer or assignment to which each market dealing, conducted, recorded or disclosed in accordance with the rules of the exchange or system, relates; and

(b)the transfer or assignment to which each directly negotiated dealing, recorded or disclosed in accordance with the rules of the exchange or system, relates.

(2)A person who operates, or who has operated, a specified exchange or system must keep the following records in relation to market dealings and directly negotiated dealings conducted, recorded or disclosed in accordance with the rules of that specified exchange or system—

(a)the unique identification number for the transfer or assignment or the proposed transfer or assignment to which the relevant dealing relates; and

(b)whether the relevant dealing is a market dealing or a directly negotiated dealing; and

(c)in a case of a market dealing—

(i)the lodgement time; and

(ii)the name of the person approved under the rules of that specified exchange or system to trade in designated taxi-cab licences engaged by a party to the dealing for the purposes of the dealing; and

(iii)the dealing related information relevant to that dealing; and

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(d)in the case of a directly negotiated dealing—

(i)the notification time; and

(iii)the dealing related information relevant to that dealing.

Penalty:20 penalty units.

13Requirements in relation to records

r. 13

(1)A person must keep the records under regulations11 and 12—

Reg.13(1)(a) amendedby S.R. Nos41/2008 reg.4(b), 74/2011 reg.9.

(a)at an address approved by thelicensing authority; and

(b)for a period of at least 5 years from the date the records were made.

Penalty:10 penalty units.

(2)The records under regulations 11 and 12 must be kept in the English language.

Penalty:10 penalty units.

14Identification numbers

An application—

(a)under section 149 of the Act for authority to transfer a designated taxi-cab licence; or

(b)under section 150 of the Act for authority to assign the right to operate a vehicle under a designated taxi-cab licence—

must, if regulations 8 and 9 apply in respect of the market dealing or directly negotiated dealing for that transfer or assignment, include the unique identification number for the transfer or assignment.

Reg.15 insertedby S.R. No. 74/2011 reg.10.

15Transitional provision—regulatory instruments

(1)In this regulation—

regulatory instrumentmeans—

(a)a notice published in the Government Gazette under regulation5 determining an area for the purposes of the definition of designated taxi-cab licence;

(b)a notice published in the Government Gazette under regulation7(1) specifying a system or rules for the purposes of these Regulations.

(2)On and after 1 August 2011, every reference to the Director in a regulatory instrument must be construed as a reference to the Secretaryunless the context otherwise requires.

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ENDNOTES

1.General Information

Endnotes

The Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005, S.R.No.164/2005 were made on 13 December 2005 by the Governor in Council under section 162 of theTransport Act 1983, No.9921/1983 and came into operation on 1 January 2006: regulation 3.

The Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005 will sunset 10 years after the day of making on 13 December 2015 (seesection 5 of the Subordinate Legislation Act 1994).

2.Table of Amendments

Endnotes

This Version incorporates amendments made to the Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005 by statutory rules, subordinate instruments and Acts.

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Transport (Taxi-Cab Licences - Market and Trading) (Amendment) Regulations 2008, S.R.No. 41/2008

Date of Making: / 21.5.08
Date of Commencement: / 21.5.08: reg. 3

Transport (Compliance and Miscellaneous) (Taxi-Cabs) Amendment Regulations 2011, S.R.No. 74/2011

Date of Making: / 26.7.11
Date of Commencement: / 1.8.11: reg. 3

Transport (Taxi-Cabs) Amendment Regulations 2011, S.R.No. 106/2011

Date of Making: / 27.9.11
Date of Commencement: / Regs 5, 6 on 27.9.11

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3.Explanatory Details

Endnotes

No entries at date of publication.