Version No. 005
Transport (Taxi-Cab Licences - Market and
Trading) Regulations 2005
S.R. No. 164/2005
Version incorporating amendments as at
27 September 2011
TABLE OF PROVISIONS
Regulation
1
Objectives
2
Authorising provisions
3
Commencement
4
Definitions
5
Determination of area
6
Authorisation to trade in taxi-cab licences
7
Specification of exchanges
8
Specification of dealings
9
Specification of information
10
Exemptions
11
Records relating to approved persons
12
Records relating to dealings
13
Requirements in relation to records
14
Identification numbers
15
Transitional provision—regulatory instruments
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Page
1
1
1
2
6
6
7
10
10
11
11
12
14
14
15
ENDNOTES
16
1. General Information
16
2. Table of Amendments
17
3. Explanatory Details
18
i
Version No. 005
Transport (Taxi-Cab Licences - Market and
Trading) Regulations 2005
S.R. No. 164/2005
Version incorporating amendments as at
27 September 2011
1 Objectives
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.
2 Authorising provisions
These Regulations are made under sections 162
and 318 of the Transport (Compliance and
Miscellaneous) Act 1983.
3 Commencement
These Regulations come into operation on
1 January 2006.
1
Reg. 2
(Heading)
amended by
S.R. No.
74/2011
reg. 5(1).
Reg. 2
amended by
S.R. Nos
74/2011
reg. 5(2),
106/2011
reg. 5.
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
r. 4
4 Definitions
In these Regulations—
Reg. 4 def. of
Act
amended by
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
taxi-cab 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—
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Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
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(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—
(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;
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(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;
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
related information exempted under
regulation 10(b);
externally-administered body corporate has the
same meaning as in the Corporations Act;
4
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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
(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;
5
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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 section 86(1)
of the Act;
taxi-cab licence has the same meaning as in
section 86(1) of the Act;
trade has the meaning given to it under
section 150A(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
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 6(1).
Note to reg. 5
inserted by
S.R. No.
74/2011
reg. 6(2).
5 Determination of area
The licensing authority may, by notice published
in the Government Gazette, determine an area for
the purposes of the definition of designated taxicab licence.
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.
6 Authorisation to trade in taxi-cab licences
The following persons are authorised to trade in
taxi-cab licences for the purposes of section 150A
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)—
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(i) the rules of that exchange or system; or
(ii) that method or those rules;
(b) if there is no specified 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.
7 Specification of exchanges
(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—
Reg. 7
(Heading)
amended by
S.R. No.
41/2008
reg. 4(a).
Reg. 7(1)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(1).
for the purposes of these Regulations.
(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—
7
Reg. 7(2)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(1).
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(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;
(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.
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(3) The specification under subregulation (1)(a) of a
specified exchange or system may be—
(a) made subject to such conditions as the
licensing authority thinks fit;
Reg. 7(3)(a)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(2).
(b) for an indefinite period or a period specified
in the notice;
(c) revoked by the licensing 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
(ii) in the opinion of the licensing
authority, the specified exchange or
system has ceased to operate or is likely
to cease to operate in the immediate
future; or
Reg. 7(3)(c)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(2).
Reg. 7(3)(c)(ii)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(2).
(iii) the specified exchange or system is
operating or has operated in breach of a
condition to which the specification is
subject; or
(iv) in the opinion of the licensing
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.
9
Reg. 7(3)(c)(iv)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011
reg. 7(2).
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
r. 8
8 Specification of dealings
(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.
9 Specification of information
(1) The holder of a designated taxi-cab licence which
is the subject of a market dealing or a directly
negotiated dealing must 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.
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(2) A person authorised under regulation 6(a) who is
engaged by a party to a market dealing or a
directly negotiated dealing for the purposes of that
market dealing or directly negotiated dealing must
ensure that dealing related information (other than
exempted information) is 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.
10 Exemptions
The licensing authority may, in writing, determine
that—
(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.
11 Records relating to approved persons
A person who operates, or who has operated, a
specified exchange or system must keep the
following records—
11
Reg. 10
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011 reg. 8.
Reg. 10(a)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011 reg. 8.
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
r. 12
(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.
12 Records relating to dealings
(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
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(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
(d) in the case of a directly negotiated dealing—
(i) the notification 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
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(iii) the dealing related information relevant
to that dealing.
Penalty: 20 penalty units.
13 Requirements in relation to records
(1) A person must keep the records under
regulations 11 and 12—
Reg. 13(1)(a)
amended by
S.R. Nos
41/2008
reg. 4(b),
74/2011 reg. 9.
(a) at an address approved by the licensing
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.
14 Identification 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.
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r. 15
15 Transitional provision—regulatory instruments
(1) In this regulation—
regulatory instrument means—
(a) a notice published in the Government
Gazette under regulation 5 determining
an area for the purposes of the
definition of designated taxi-cab
licence;
(b) a notice published in the Government
Gazette under regulation 7(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 Secretary unless
the context otherwise requires.
═══════════════
15
Reg. 15
inserted by
S.R. No.
74/2011
reg. 10.
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
Endnotes
ENDNOTES
1. General Information
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 the Transport 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
(see section 5 of the Subordinate Legislation Act 1994).
16
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
Endnotes
2. Table of Amendments
This Version incorporates amendments made to the Transport (Taxi-Cab
Licences - Market and Trading) Regulations 2005 by statutory rules,
subordinate instruments and Acts.
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
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
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
17
Transport (Taxi-Cab Licences - Market and Trading) Regulations 2005
S.R. No. 164/2005
Endnotes
3. Explanatory Details
No entries at date of publication.
18