Part 4General provisions relating to passenger transport

Public transport companies etc

I1I271Removal of certain disabilities and requirements for consent

1

Part 4 of the TA 1985 (which makes provision for the establishment of public transport companies and for the powers of Passenger Transport Authorities etc in relation to them) is amended as follows.

2

In section 74 (disabilities of directors of public transport companies), omit subsections (3) to (12).

3

Each of the following (which require the consent of the Secretary of State for the exercise of certain powers) is omitted—

a

section 75(3) (subscription for, or acquisition or disposal of, certain shares, securities or other property or assets etc);

b

section 79(3) (making or guaranteeing of certain loans);

c

section 79(7) (guarantees etc in connection with disposals of certain shares, securities or other property or assets etc);

d

in section 79(8) (provision of financial assistance by way of grants, loans, etc) the words “, with the consent of the Secretary of State,”.