(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,”.
Commencement Information
I1S. 71 in force at 9.2.2009 for E. by S.I. 2009/107, art. 2(2), Sch. 2 Pt. 1 (with Sch. 2 para. 5)
I2S. 71 in force at 1.4.2009 for W. by S.I. 2009/579, art. 2(h) (with Sch. para. 3)