Union govt moves to set up regulatory ecosystem for pre-owned car market

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NEW DELHI: The Ministry of Road Transport and Highways on Wednesday said it amended Chapter III of the Central Motor Vehicle Rules, 1989, to build a comprehensive regulatory ecosystem for the pre-owned car market.

The key provisions of the proposed rules include an authorisation certificate for dealers of registered vehicles, which has been introduced to identify the authenticity of a dealer; the procedure for intimation of delivery of vehicle between the registered owner and the dealer and the clarification of the powers and responsibilities of a dealer in possession of registered vehicles.

Others include the empowerment of dealers to apply for renewal of registration certificate/renewal of certificate of fitness, duplicate registration certificate, no objection certificate (NOC), transfer of ownership of motor vehicles in their possession and the maintenance of an electronic vehicle trip register has been mandated which will contain details of the trip undertaken, namely trip purpose, driver, time, mileage, etc.

The ministry also said these rules will aid in recognising and empowering intermediaries or dealers of registered vehicles as well as provide adequate safeguards against fraudulent activities in the selling or purchasing of such vehicles. (ANI)

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