Statutory guidance has been clarified regarding subsidiary finance to ensure that funds are held by the entity that holds the operator's licence. Additionally, where company accounts are relied on they must provide sufficient detail for an assessment of availability.

Update to case law following publication of the Upper Tribunal 2023 Digest.

Updated with the requirement to make sure financial evidence is current and financial calculations are conducted consistently to ensure fairness to all applicants for an operator’s licence

adding an updated section on: - period of grace and potential grounds for revocation

Publication of consultation draft to incorporate changes bought about by The Goods Vehicles (Licensing of Operators) (Amendment) Regulations 2022 - https://www.gov.uk/government/consultations/senior-traffic-commissioners-statutory-documents-2022-revisions

Refer to UT decision on obligation to revoke a licence when a period of grace expires (para 26)

Clarification of Statutory Document status to assist document users and unaudited accounts referencing the Upper Tribunal decision in Thandi Coaches

Inclusion of a recent UT decision on Period of Grace procedure (document 2, para 25) Adding UT cases references for funds to be held within the entity that holds the licence (document 2, para 46) Amendment to Annex 3 Finance Agreement to include Invoice Discounting Agreement with worked example (document 2, Annex 3)

Adding hyperlink between HTML document and PDF.

Reflecting legal updates.

Updating financial standing levels for 2021.

Uploading HTML version of stat doc and ODT versions of some annexes for accessibility purposes.

Updating financial standing levels.

Document updated.

Updated to confirm no change in financial standing levels for 2020.

First published.