Transport (London) Act 1969

Third parties affected by vesting provisions

9 (1) Without prejudice to paragraph 8 of this Schedule, any division, apportionment or other transaction between the Executive and the designated company in pursuance of an agreement under paragraph 1 or a direction under paragraph 3 of this Schedule shall be binding on all other persons, and notwithstanding that it would, apart from this sub-paragraph, have required the consent or concurrence of some other person.

(2) It shall be the duty of the Executive and the designated company, if any such transaction is effected, to notify any person who has rights or liabilities which thereby become enforceable as to part by or against one, and as to part by or against the other, of those bodies, and if such a person applies to the Minister and satisfies him that the transaction operated unfairly against him the Minister may give such directions to those bodies as appear to him appropriate for varying the transaction.

10 If in consequence of any such transfer as is referred to in paragraph 8(1) of this Schedule the rights or liabilities of any person other than the Executive or the designated company which were enforceable against or by the London Board become enforceable in part against or by one, and in part against or by the other, of the Executive and the designated company, and the value of any property or interest of that person is thereby diminished, the Executive and the designated company shall pay to that person such compensation as may be just, and any dispute as to whether and if so how much compensation is so payable, or as to the person to whom it shall be paid, shall be referred to and determined by an arbitrator appointed by the Lord Chancellor.

11 Any instrument whereby the Executive or the designated company purport to make a disposal for consideration to some person other than the Executive, the Bus Company or a wholly-owned subsidiary of the Executive or the Bus Company of any land or other property which belonged to the London Board, or which is an interest in property which belonged to the London Board, whether that disposal is absolute or for a term of years, shall be as effective as if both the Executive and the designated company had been parties to that instrument and had thereby made the like disposal of any interest of theirs in the property in question.

12 If at any stage of any court proceedings to which the Executive or the designated company and a person other than the Executive, the Bus Company or a wholly-owned subsidiary of the Executive or the Bus Company are parties, it appears to the court that the issues in the proceedings depend on the identification or definition of any of the property, rights or liabilities transferred under section 16 of this Act which the Executive and the designated company have not yet effected, or raise a question of construction on that section or this Schedule which would not arise if the Executive and the designated company constituted a single person, the court may, if it thinks fit on the application of a person other than as aforesaid who is a party to the proceedings, hear and determine the proceedings on the footing that such one of the Executive and the designated company as is a party to the proceedings represents and is answerable for the other of them, and that they constitute a single person, and any judgment or order given by the court shall bind both the Executive and the designated company accordingly.

13 It shall be the duty of the Executive and designated company to keep one another informed of any case where either of them may be prejudiced by paragraph 11 or 12 of this Schedule, and if either of them claims that they have been so prejudiced and that the other of them ought to indemnify or make a payment to them on that account and has unreasonably failed to meet that claim, the body so claiming may refer the matter to the Minister for determination by the Minister.