5Exemption for fleet vehicles

5 Exemption for fleet vehicles

(1)  In this regulation –

prescribed business means a business other than –

(a) the business of dealing in motor vehicles; or

(b) the business of renting or hiring out motor vehicles to customers of the business.

(2)  The owner of a prescribed business is exempt from the operation of section 6 of the Act, in relation to the buying, selling or exchange of motor vehicles, if the owner –

(a) buys or exchanges the motor vehicles for the purpose of forming, or maintaining, a fleet of vehicles used, or to be used, for the purposes of the prescribed business; or

(b) sells or exchanges a motor vehicle that was part of such a fleet of vehicles for the purpose of –

(i) renewing, reorganising or rationalising the fleet of vehicles; or

(ii) winding up the prescribed business.