Railways Act 1921

19 Restrictions on combination.

(1) Save as in this Act expressly provided, nothing in this Act shall prejudice or affect the rights or liabilities of any constituent or subsidiary company under any Act or agreement or arrangement (whether made under statutory powers or otherwise) in existence at the passing of this Act, but from and after the passing of this Act it shall not be lawful for any constituent or subsidiary company or for any amalgamated company without the consent of the Minister to enter into agreements with any constituent or subsidiary company in another group or with any other amalgamated company, as the case may be, for the allocation of traffic or the pooling of receipts or otherwise for effecting a combination which would contravene the purposes of this Act:

Provided that it shall be lawful for any two or more amalgamated companies to make and carry into effect, with the consent of the Minister, agreements for the joint working of the undertakings of subsidiary companies acquired by one of such amalgamated companies under the provisions of this Act.

(2) Before giving his consent under this section the Minister shall, unless it appears to him that the matter is one of such small importance that it is unnecessary to do so, refer the matter for consideration and report to a committee selected from the panel set up under section twenty-three of the Ministry of Transport Act, 1919, as extended by this Act.

(3) Schedules of all agreements and arrangements in existence at the passing of this Act (whether made under statutory powers or otherwise) in which provision is made for the allocation of traffic or the pooling of receipts therefrom on any railways which will become railways of different amalgamated companies, giving particulars of the dates of such agreements or arrangements, and the parties thereto, shall, on request by the Minister, be furnished to him and such further particulars as the Minister may require in regard to such agreements or arrangements shall be furnished to him by the companies affected thereby if and when demanded.