How are holding companies and subsidiaries treated?
1. The brief notes below do not cover every case – if you have any special problems that are not covered, you should seek further advice; for example, consult a trade association or other professional adviser. 2. A holding company can include in its application for an operator’s licence the vehicles of any named subsidiary of which it owns more than 50%. If a licence is granted in the name of a holding company and that company later acquires a subsidiary, the subsidiary’s vehicles can be included on the holding company’s licence, provided they are in the same Traffic Area. 3. Adding these vehicles may involve a change in the holding company’s licence for which an application will have to be made to the Traffic Commissioner on form GV81 – see Part 11. Back to top Disciplinary action Can a licence be withdrawn or suspended? 1. Yes. The Traffic Commissioner must revoke a Standard licence if the holder no longer fulfils the requirements of good repute, financial standing or professional co
Related Questions
- Is the CIP rule applicable to bank holding companies and their non-bank subsidiaries, or to savings and loan holding companies and their non-savings association subsidiaries?
- How do transfers between Bermudian holding companies and their foreign subsidiaries work?
- How are holding companies and subsidiaries treated?
