The Vehicle Registration Marks Act, enacted on July 19, 2007, has introduced significant changes to the way private number plates can be retained. This legislation, driven by the Cherished Number Dealer Association (CNDA) and presented by Richard Ottaway MP, aims to enhance the security and efficiency of the retention process.
The Vehicle Registration Marks Act, effective from July 19, 2007, has revamped the process for retaining private number plates. Spearheaded by the Cherished Number Dealer Association (CNDA) and presented by Richard Ottaway MP, the new legislation allows registered keepers to nominate third parties as Grantees, thereby reducing fraud risks and improving security. This article delves into the specifics of the changes, their implications, and the benefits for vehicle owners.
Under the previous system, when a private number plate was removed from a vehicle and placed on retention using form V778/1, the registered keeper became the Grantee on the V778 retention certificate. The Grantee could nominate a third party, known as the Nominee, but the Nominee had limited rights. Specifically, the Nominee could only assign the number to a vehicle registered in their name. The Grantee retained the exclusive rights to extend the certificate, change the Nominee, or request a duplicate from the Driver and Vehicle Licensing Agency (DVLA).
This system posed significant fraud risks. For instance, a Grantee could sell a retention number and then request a duplicate certificate, rendering the original invalid and causing the buyer to lose the registration number. Similarly, a buyer might pay the seller to retain the registration number, only to never receive the V778 retention certificate, as it would be sent to the Grantee.
The new legislation allows the registered keeper to nominate a third party as the Grantee on the V778/1 form. This change grants the buyer full rights, including the crucial aspect that the DVLA will correspond only with the nominated Grantee regarding that registration number. This update significantly reduces the potential for fraud and enhances the security of the retention process.
It's important to note that these changes apply only to new applications for registrations still on vehicles. Registration numbers already on retention cannot be transferred under the new system. However, this improvement greatly enhances the security of the scheme and mitigates potential fraud scenarios.
For members of the public looking to sell their private number plates, it is now advisable to keep the number plate on their vehicle until a buyer is found. This approach allows sellers to take full advantage of the new legislation, especially if they are selling to a cherished number dealer.
If the buyer wishes to put the number plate directly onto a vehicle, the seller can still change the Nominee to the buyer's name, allowing for a quick assignment. However, if the purchaser wants to keep the number on retention, they will face the same limitations as the old system: they can only assign it to a vehicle registered in the Nominee's name, cannot extend the certificate, cannot change the Nominee, and the DVLA will not correspond with them.
The successful passage of this Private Members Bill through Parliament, with the assistance of Richard Ottaway MP, is considered a significant achievement for the CNDA. This legislative change marks a substantial improvement in the vehicle registration number retention scheme, providing greater security and reducing the risk of fraud.
The Vehicle Registration Marks Act of 2007 has brought about crucial changes to the retention of private number plates, enhancing security and reducing fraud risks. By allowing registered keepers to nominate third parties as Grantees, the new legislation provides greater protection for buyers and sellers alike. Vehicle owners are encouraged to familiarize themselves with these changes to fully benefit from the improved system.
For more information on the new retention scheme, visit the DVLA official website.
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