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Financial Standing Update

Financial Standing is the amount of money which is required to be available to PSV Operators.  Each year the amount required is reviewed in October in light of the Pound to Euro exchange rate with an increase or reduction brought into effect from 1 January the following year.

National and International PSV Operator Licence holders will now be required to demonstrate they have access to £7,950 (previously £7,850) for their ?rst vehicle and £4,400 (previously £4,350) for each additional vehicle they hold discs for.

We have updated our ‘Conversation with your Board’ advice leaflet to reflect this change, this leaflet can be found within the CT Resources folder in the Members Area of this website.  This advice leaflet aims to help community transport operators work through what is required for them to move from operating using section 19 and 22 permits to PSV operator compliance.

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