What is the difference between a Transfer and an Assignment? A transfer of a licence is the transfer of ownership of the licence from one party to another. An assignment of a licence involves one party leasing a licence including taking on all rights and responsibilities of the licence but not owning the licence. This is usually done for a defined period of time and involves a monthly assignment (lease) fee to be paid by the assignee to the assignor. How do I register to buy a licence or assignment? To register to buy a licence or assignment listed on this website you must contact a BSX Taxi Broker. A list of Brokers is included in the Brokers section Brokers section of this website. The same broker may act for the buyer and the seller. To register an interest in buying or assigning a licence you must contact any of the listed BSX Taxi Brokers. Is VTD approval required before the licence is transferred or assigned? Yes, Under the Transport Act 1983, all transfers and assignments of licences must be approved by the Victorian Taxi Directorate (VTD). Level 23 80 Collins Street GPO Box 2797 Melbourne, Victoria 3001 Tel: 1800 638 802 FAX: (03) 8683 0777 www.taxi.vic.gov.au How is a price established for a licence transfer? The price of a licence is determined by the seller. Check with the Broker for any additional fees or charges that may apply. How does settlement take place? Settlement should not occur until the written approval of the licence transfer has been received from the VTD. Following compliance with any VTD conditions or requirements, including the licensing of the vehicle to be used on the licence, the VTD will issue the licence in the name of the purchaser.