After four years working as a "cosy", Mr Mohamed Soliman is finally getting a plate of his own. "I'm very happy. I feel the time is right for this," he said yesterday on handing over his application form with £5,000 to Dublin Corporation's taxi and hackney office.

Mr Soliman, who moved to Dublin from Egypt 10 years ago, has worked both as a hackney driver and a cosy, and is currently paying £250 a week to drive under a hired taxi plate. That, he hopes, will all change within a matter of weeks when, barring any hiccups, he will be issued with a plate of his own.

"I'm looking forward to it. There will be loads of work for everybody. Business people who get into my car always say we need more taxis," he says.

His optimism was shared by other applicants, who flocked to the corporation's offices with cash and cheques. "It's a historic day," said one woman who had just applied for two plates, one for her husband, the other for her son. They have been working as cosies for 14 and 12 years respectively, she said, and have "given away thousands upon thousands of pounds on hiring plates. But no more."

While cosies were well represented at the cashiers' desk, they were outnumbered by about five to one by hackney drivers.

The majority were purchasing the £5,000 plates for ordinary vehicles. Most drivers said it was not worthwhile purchasing a "wheelchair" plate for £100 when a wheelchair-accessible vehicle cost up to £35,000.

"I'd rather lose £5,000 than £35,000," said Mr John Murphy from Kimmage, who said he feared if he bought a wheelchair-accessible vehicle it might have to be replaced in two years' time when European regulations, aimed at standardising taxi transport vehicles, came into force.

Welcoming the deregulation of the sector, he said: "It's happened in every capital city and it's about time it happened here." While he said he had some sympathy for taxi-drivers who had invested large sums in plates, "It's a chance they took. I've been in other business which didn't work out and no one compensated me."

Yesterday's brisk trade in applications reflected a fear among many that the Government might back down on its deregulation policy after Tuesday's negotiations with taxi unions.

"We don't know what will happen next week, but even if they pander to the taxis maybe they'll leave us alone," said Mr Martin Byrne from Rathmines, one of the many hackney drivers applying yesterday.

One person taking a more cautious approach was Mr Mark Stafford, a cosy driver from Clondalkin who decided at the last minute not to hand over his £5,000. "I got cold feet, to be honest. I'm just not sure there is enough business to go around. You can't even get into the ranks at the moment."

Another fear, he said, was having to display one of the new numbers on his car. "It could cause a lot of hassle with other drivers," he said. "You'd be a sitting duck."

A number of taxi-drivers protested at the local authority offices yesterday, tearing up application forms on the steps outside.

Further details of the taxi situation over the weekend are available from www.ireland.com