NEW FINANCIAL RETURNS REQUIRED OF OPERATORS Minister's Action Means that Certain Returns Must be Made by February 29th
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vuTITII reference to the brief news
V V given on page 700 of our issue for last week, regulations concerning the Minister's decisions as to ,financial returns, etc., required by him under Sections 75 and 76 of the Road Traffic Act, 1930, are at present in. the printers' hands and will be circulated shortly. We are able to give advance information with regard to these regulations.
Under Section 75 a new form of annual financial return is to be submitted by all operators owning six or more public-service vehicles. It applies to financialyears commencing on or after January 1st, 1932, and must be submitted within two months of the close of each year. The proposed return
is in two parts. The first relates to capital expenditure, and details have to be given of expenditure on vehicles, garages, paant, machinery and other assets, with information as to depreciation. The second part relates to revenue accounts; details are required separately of receipts from stage, express and contract carriages, and from. sundries, such as advertising and the hiring of vehicles to other operators: Details of expenditure must be given under the headings of repairs; traffic expenses (wages, etc.), petrol, oil, licences, vehicle hiring, depreciation and general. These expenditure figures need not be shown separately for stage,
express and contract carriages. The basis of computation, where other businesses are involved, is to be the vehiclemile.
We may warn readers that possibly the Minister will, at some future date, make the above return applicable to all operators, irrespective of the number of vehicles owned. Also items of expenditure ?nay later be sub-divided under classes of operation.
The statistical return required under Section 75 of thmAet is being slightly amended. Certain of the information demanded is being sub-divided under stage, express and contract services and
excursions and touts. An additional item is to be inserted, this being the amount obtained from other operators for the hire of vehicles, to be included under the contract-carriage heading.
A more urgent Matter to operators is the Minister's decision regarding Section 76 of the Act, for under this certain important returns must be made by February' 29th, 1932. Under this section the Minister proposes to require applicants and holders of road service liceuces and backings to disclose to the Traffic Commissioners particulars of the following:—
A. Any agreement or arrangement, affecting in any material respect the provision ,ffithfn the area of the Commissioners of passenger-transport facilities, entered into by the applicant Dr holder with any other person by whom such facilities are provided, whether within Or without the area.
B. (1) Any .financial interest (whether as a partner or shareholder ox as a result of any loan, guarantee, or other financial transaction) which any other person providing passengertransport facilities or controlling (either wholly or in conjunction with any other person) the business of any person who provides such facilities has in the business of the applicant or holder of the licence.
B. (2) In the ease -of the applicant or holder who is a company, particulars of any right which any such person as referred to in B (1) above has to nominate any director of the company.
C. (1) Any such interest as referred to in B (1) above which the applicant or holder has . in the business of any other person who provides passenger-transport facilities within the area of the Commissioners.
Cl. (2). in the .case of any person referred to in (1 11) above who is a company, particulars of any right which the applicant or holder has to nominate any director of the company.
Any agreement, etc., which operators enter into after the date on which the regulation is published will have to be reported within 21 days or before February 29th, whichever is later. It may be noted that, when a conference of operating interests was held at the Ministry to discuss this matter, the query was raised regarding the effect upon a hire-purchase agreement. No authoritative ruling was forthcoming, but the opinion was expressed that such agreements would not come within the regulation unless the hiring party was also a provider of transport.