OCBA - Compensation fund

The Second-hand Vehicles Compensation Fund (the Fund) is administered by the Commissioner for Consumer Affairs and has been set up to protect the consumer should a dealer default on their obligations. All licensed dealers are required to pay a contribution to the Fund each year when they renew their licence.

If you do not pay this contribution your licence is suspended until such time the payment is made.

A fee is required to be paid by the licensee for each registered premises. In the case of partnerships, only one member of the partnership is required to pay the fee into the Fund.

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