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(1)Subject to the provisions of this Act, the Executive shall have power—
(a)to carry passengers by any form of land or water transport (including in either case hovercraft) within, to or from Greater London;
(b)so far as the Executive consider requisite—
(i)in connection with the exercise of their powers under paragraph (a) of this subsection, or
(ii)in order to avoid an interruption of services formerly provided by the London Board,
to carry passengers as mentioned in the said paragraph (a) between places outside Greater London;
(c)in any vehicle or vessel used for the carriage of passengers in pursuance of paragraph (a) or (b) of this subsection, or in another vehicle drawn by or with, or propelled with, any vehicle so used, to carry also luggage and other goods;
(d)to let passenger vehicles on hire with or without other vehicles drawn by or with, or propelled with, those passenger vehicles for the carriage of goods ;
(e)to store within Greater London or in any premises of the Executive outside Greater London goods which have been or are to be carried by the Executive or a subsidiary of theirs and, so far as any premises provided for the purposes of that or any other part of their business are not required for those purposes, to use them to provide facilities for the storage of other goods;
(f)to make arrangements with any person providing passenger transport services by air for the provision of such services between places in Greater London or between such places and places outside Greater London, and to include in such arrangements provision for the making of payments to that person by the Executive;
(g)to supply, maintain and repair anything required for the purposes of the business of, or of a subsidiary of, the Executive or any of the national transport authorities or for the purposes of the Council;
(h)to supply to any person spare parts and components for passenger road vehicles disposed of by the Executive in the exercise of their powers under section 14(1)(e) of the Act of 1962 as applied by subsection (2) of this section, or by a subsidiary of the Executive, as being no longer required for the purposes of their business, and, for the purpose of supplying such spare parts or components which the Executive are satisfied cannot be satisfactorily obtained for the purpose by any other means, to manufacture them ;
(i)subject to any directions by the Council, to construct, manufacture and produce anything which is required for any of the purposes of, or of a subsidiary of, the Executive or any of the national transport authorities or for the purposes of the Council;
(j)subject to any directions by the Council, ait any place where the Executive, in the exercise of their powers under section 14(1)(d) of the Act of 1962 as applied by subsection (2) of this section, provide a car park, to repair motor vehicles for any persons, and to sell to any persons petrol, oil and spare parts and accessories for motor vehicles, whether or not those persons are using the car park ;
(k)subject to any directions by the Council, to establish and administer pension schemes and pension funds in the interest of persons who are or have been employed by, or by a subsidiary of, the Executive or the London Board or by any other person of whom the Council are satisfied that the Executive are a successor in title, and to pay pensions to or in respect of such persons, or to enter into and carry into effect agreements or arrangements with any other person for securing or preserving pension rights for such persons ;
(l)with the consent of the Council, to lend money to be applied for the purposes of a pension scheme under which the Executive or a subsidiary of theirs pay employer's contributions or are subject to any other obligations;
(m)to do anything necessary for the purpose of fulfilling a contract entered into by the London Board before the vesting date notwithstanding that apart from this paragraph the Executive would not have power to do that thing;
but if the Executive engage, either directly or through a subsidiary, in any activities authorised by paragraph (d) or (j) of this subsection, the Executive shall in carrying on those activities act as if they were a company engaged in a commercial enterprise or, as the case may be, shall exercise their control over that subsidiary so as to ensure that the subsidiary in carrying on those activities acts as a company so engaged.
(2)Subject to the provisions of this Act, the following provisions with respect to the powers of the Boards, namely—
(a)section 11 of the Act of 1962 and section 49(1) to (3) of the Act of 1968 (which relate to the development of land);
(b)section 12 of the Act of 1962 (which relates to pipelines) so far as it relates to the construction and operation of pipe-lines required for the purposes of the business of a Board other than the operation of pipelines ;
(c)sections 14(1) to (4) and 16 of the Act of 1962 and section 50(7) to (9) of the Act of 1968 (which contain supplemental provisions relating to the powers of the Boards);
(d)section 15 of the Act of 1962 (which relates to the power of the Minister to authorise the compulsory purchase of land by a Board);
(e)section 17(1) and (2) of the Act of 1962 (which relate to powers to promote or oppose Bills and orders);
(f)section 25(1) and (2) of the Act of 1962 and section 51(2) and (4) to (6) of the Act of 1968 (which relate to subsidiaries);
(g)section 43 of the Act of 1962 and sections 50(10) and (so far as relating to the said section 43) 51(2) of the Act of 1968 (which contain general provisions as to charges and facilities of the Boards),
shall apply to the Executive as they applied, apart from any other provision of the Act of 1962 or of 1968, to the London Board and have effect accordingly as if the Executive were one of the Boards, except that in their application to the Executive those provisions other than section 15 of the Act of 1962 shall have effect as if for any reference to the Minister there were substituted a reference to the Council.
(3)Subsection (1)(l) of this section and subsections (3) and (4) of section 14 of the Act of 1962 as applied by subsection (2) of this section shall not affect the power of the Executive—
(a)to lend money by way of investment or to subscribe for or acquire securities by way of investment; or
(b)to leave outstanding any loan made or guarantee given, or to retain any securities acquired, before the vesting date by the Commission or the London Board.
(4)The Council, the Executive and any subsidiary of the Executive shall each have power to enter into and carry out agreements with one another for the giving of assistance to one another by making available to the assisted party any services or facilities provided by, or any property of, the assisting party on such terms as may be agreed between those parties; and in section 72(2) of the [1963 c. 33.] London Government Act 1963 (which sets out the authorities for whom the Council may purchase, store and supply goods) at the end there shall be added the following paragraph:—
“(h)the London Transport Executive and any subsidiary within the meaning of the Transport (London) Act 1969 of that Executive.”
(5)Each of the powers conferred on the Executive by the foregoing provisions of this section shall be deemed to be in addition to, and not in derogation of, any other powers so conferred ; and it is hereby declared that those provisions relate only to the capacity of the Executive as a statutory corporation, and nothing in those provisions shall be construed as authorising the disregard by the Executive of any enactment or rule of law.
(6)If at the vesting date any action has been taken by the London Board for the purpose of promoting a Bill in Parliament in pursuance of the powers conferred by, and with the consent of the Minister under, section 17 of the Act of 1962, the Executive may proceed with the promotion of that Bill as if that action had been taken by them in pursuance of the powers conferred by, and with the consent of the Council under, the said section 17 as applied by subsection (2) of this section.
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