The Vehicle Registration Number Retention Scheme Is Changing
Below is a MRR and PLR article in category Vehicles -> subcategory Trucks-SUVS.
Changes to the Vehicle Registration Number Retention Scheme
Overview
The Vehicle Registration Marks Act, introduced by Richard Ottaway MP and backed by the Cherished Number Dealer Association (CNDA), became law on July 19, 2007. This new legislation significantly alters the way vehicle registration numbers can be retained.
Previous Process
In the past, when private number plates were removed from a car using form V778/1, the registered keeper of the vehicle was designated as the Grantee on the V778 retention certificate. The Grantee could nominate a third party (Nominee), but this person had limited rights, only able to assign the number to a vehicle in their name.
The Grantee maintained control over extending the certificate, changing the Nominee, or requesting duplicates from the DVLA, which posed a fraud risk. For instance, a Grantee could sell the retention number, request a duplicate, and the buyer could potentially lose the registration number.
New Legislation
Under the new Act, the registered keeper can now nominate a third party as the Grantee on the V778/1, granting the buyer complete rights over the registration number. The DVLA will then correspond directly with the new Grantee. However, this change only applies to new applications for registrations still on vehicles; existing retained numbers are not affected. This new approach improves security and fraud prevention.
Implications for Sellers
Sellers of private number plates are now advised to keep the plates on their vehicle until a buyer is secured. This allows them to benefit from the new legislation, especially if selling to a cherished number dealer. If the buyer wishes to immediately assign the number to a car, the seller can still change the Nominee to the buyer's name for quick assignment. However, if the buyer wants to retain the number, they remain subject to the old system's limitations, such as only being able to assign it to a vehicle registered in the Nominee's name and facing restricted interaction with the DVLA.
Success for CNDA
The success of the CNDA in passing this legislation through Parliament marks a significant achievement, enhancing the security and efficiency of the vehicle registration number retention process with the support of Richard Ottaway MP.
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