1 January 2006 - Sale of Melbourne Taxi Plates

New Victorian Regulations governing the sale of Melbourne taxi plates came into effect on 1st January.

The Regulations apply only to Melbourne taxi plates; they do not apply to taxi plate transfers anywhere in Regional Victoria.

Against the previous background of taxi plate sellers (like plate owners in all other States) being reasonably free to choose the manner of sale of their taxi plates the new Regulations provide:- 

  • That Melbourne taxi plates can only in future be sold through a Government Authorised taxi plate broker, (and they MUST be sold through such a Broker).

  • That every Melbourne taxi plate sale will have to be 'traded' by that Government authorised broker through a Stock Exchange.

The nominated exchange has not yet been confirmed - but the Bendigo Stock Exchange is tipped for the job.

 It appears that these Regulations came about because of some complaints about the system that works reasonably well in almost every other part of Australia.

That said, it might be legitimate to ask:

  • Is this simply more unnecessary Regulation adding to Industry costs?

  • What will be the impact of these changes on the Melbourne taxi industry?

  • Is it in the interest of the value of an asset for Government to regulate the trading environment?

  • Who is going to pay the brokers?

  • Is the Bendigo Stock Exchange going to act on these sales without charge?

  • Why go to a Bendigo business to buy or sell a Melbourne taxi plate?

  • Why is Bendigo Stock Exchange going to be given a monopoly on these new 'trades'? (Who owes favours to whom in Bendigo?)

  • Will authorised brokers eventually have to compete on commissions until the task of acting as a broker becomes nothing more than a headache for the brokers?

Assuming the Victorian Government is capable of registering a change of ownership then why, if two adults are capable of agreeing on the terms of the sale, should they be forced to use a Government 'authorised broker' and why should they be forced to conduct their 'trade' through the Bendigo Stock Exchange.

 If other State Governments are watching what is happening in Melbourne then maybe it is in the Industry's interest in other States to assess whether the Government imposed solution in Melbourne is better than allowing reasonable adults to make their own trading arrangements within the existing Regulatory environment.

 131 008 - Always Interested.

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