Transport (Taxi-Cab Licences - Market and
Trading) Regulations 2005
S.R. No. 164/2005
TABLE OF PROVISIONS
Regulation
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2.
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8.
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10.
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14.
Page
Objectives
Authorising provision
Commencement
Definitions
Determination of area
Authorisation to trade in taxi-cab licences
Specification of exchanges etc. by the Secretary
Specification of dealings
Specification of information
Exemptions
Records relating to approved persons
Records relating to dealings
Requirements in relation to records
Identification numbers
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STATUTORY RULES 2005
S.R. No. 164/2005
Transport Act 1983
Transport (Taxi-Cab Licences - Market and
Trading) Regulations 2005
The Governor in Council makes the following Regulations:
Dated: 13 December 2005
Responsible Minister:
PETER BATCHELOR
Minister for Transport
RUTH LEACH
Clerk of the Executive Council
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 provision
These Regulations are made under section 162 of
the Transport Act 1983.
3. Commencement
These Regulations come into operation on
1 January 2006.
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4. Definitions
In these Regulations—
"Act" means the Transport 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—
(i) a statement to the effect that the
designated taxi-cab licence is
available for transfer;
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(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;
(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;
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(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;
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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;
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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.
5. Determination of area
The Secretary may, by notice published in the
Government Gazette, determine an area for the
purposes of the definition of "designated taxi-cab
licence".
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)—
(i) the rules of that exchange or system; or
(ii) that method or those rules;
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(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 etc. by the Secretary
(1) The Secretary 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.
(2) Without limiting sub-regulation (1), in specifying
a securities exchange or other system the
Secretary 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;
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(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 sub-regulation (1)(a) of a
specified exchange or system may be—
(a) made subject to such conditions as the
Secretary thinks fit;
(b) for an indefinite period or a period specified
in the notice;
(c) revoked by the Secretary, 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 Secretary, 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
(iv) in the opinion of the Secretary, 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.
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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 Secretary 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 Secretary
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—
(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
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(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
(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.
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(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
(iii) the dealing related information relevant
to that dealing.
Penalty: 20 penalty units.
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13. Requirements in relation to records
(1) A person must keep the records under
regulations 11 and 12—
(a) at an address approved by the Secretary; 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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