Operator Licensing Questions Part 3


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Operator Licensing Questions Part 3
Question #1: In a case similar to the previous questions, let’s say that the parent company substantially reduces it trading capacity and becomes mainly a holding company, setting up a number of subsidiary companies to which the assets, funds and trading are transferred. It continues to operate one vehicle but the subsidiaries are growing. What is the factor most likely to prevent the parent company from continuing to operate all of the vehicles?
Question #2: You are a director of a Transport company. Another company of which you are a director becomes insolvent and your transport manager resigns as he thinks this company is next. What must you do?
Question #3: Imagine you are the transport manager in the above scenario. What must you do after resigning?
Question #4: Bill Smith is a sole trader and wishes to apply for an operating licence. His business account in the name of Smith’s Haulage is overdrawn to its limit but he has some private savings in an account in his own name. How can he satisfy financial standing requirements?