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London Regional Transport Act 1984

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This is the original version (as it was originally enacted).

12Government funding of services under control of London Regional Transport

(1)The Secretary of State may, with the consent of the Treasury, make grants to London Regional Transport for any purpose and on such terms and conditions as the Secretary of State thinks fit.

(2)Subject to any such terms or conditions, it shall be the duty of London Regional Transport to apply sums received by way of grants under this section—

(a)in aid of capital investment or operating costs in respect of public passenger transport services provided by them or any of their subsidiaries; or

(b)in making payments to any other person providing such services in pursuance of any agreement entered into by London Regional Transport by virtue of section 3(2) of this Act in aid of his capital investment or operating costs in respect of those services ;

in such manner as appears to them to be appropriate for the purpose of the discharge of their general duty under section 2(1) of this Act.

(3)Where sums so received are applied by London Regional Transport in making any such payments as are mentioned in subsection (2)(b) above, London Regional Transport shall secure that the relevant agreement—

(a)provides for the manner in which those payments are to be applied ; and

(b)includes terms appearing to London Regional Transport to be appropriate for securing that those payments are applied in accordance with the agreement.

(4)In relation to any services, references in subsection (2) above to operating costs in respect of those services include any provision for the depreciation or renewal of assets employed in or in connection with the operation of those services.

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