If the Vehicle Registration Marks Bill passes its second reading, the process by which a cherished number can be sold could soon be made far simpler for consumers and cherished number dealers alike. Richard Ottaway MP (Croydon South), who presented the bill, commented: ‘If the bill is successful, consumers and cherished number dealers will get a process that provides more choice and flexibility. These changes would give consumers more confidence in the process, and allow dealers to reassure their customers.’ At present, the process is very complicated, and leaves the buyer open to fraud. The bill would simplify the process, and provide more protection at the same time. Both the Government and the Driver and Vehicle Licensing Agency (DVLA) support the bill. Under the current rules, a cherished number can be held on a retention certificate for 12 months pending its assignment to another vehicle. However, the number remains the property of the registered keeper, even after the purchaser has paid for it. Ownership only passes to the purchaser when the number is assigned to a vehicle. If after 12 months have passed the purchaser has not yet assigned the number, and the registered keeper will not grant an extension, or cannot be contacted, ownership reverts to the keeper.
The Bill proposes a new regime where the keeper can grant retention rights directly to the purchaser. For most transactions this will make the process simpler. It will also prevent consumers from being deliberately conned. The current regime makes it possible for bogus sales to take place, where the seller takes the buyer’s money but never provides the plate, or the documentation to renew the retention certificate.