Transport Act 1983

Financial provisions E+W

2 Financial duty of Executives E+W

(1) An Executive shall so perform their functions as to ensure so far as practicable that the combined revenues of the Executive and any subsidiaries of theirs for any accounting period are not less than sufficient to meet their combined charges properly chargeable to revenue account in that period.

(2) If in the case of any accounting period it is not practicable for an Executive to ensure that those revenues are sufficient to meet those charges, subsection (1) above shall have effect in relation to the next following accounting period as if the combined charges there referred to included an amount equal to the amount of the deficit.

(3) For the purposes of this section there shall be disregarded any deficit or potential deficit in an accounting period to the extent to which it is or is to be covered by the appropriation of any reserves of the Executive available for the purpose if the appropriation of those reserves for that purpose has been proposed by the Executive F1 . . . and approved by the Authority F2 . . ..

(4) An Authority in exercising or performing any of their functions F3 . . . shall have regard to the duty imposed on an Executive by this section.

(5) In this section “subsidiary” has the meaning given by section 92(1) of the M1 Transport Act 1962, . . . F4

Textual Amendments

F1 Words in s. 2(3) repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3(2), Sch. 3 Pt. I (subject to Sch. 3 Pt. II); S.I. 2002/2024 art. 2(b)

F2 Words in s. 2(3) repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3(2), Sch. 3 Pt. I (subject to Sch. 3 Pt. II); S.I. 2002/2024, art. 2(b)

F3 Words in s. 2(4) repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3(2), Sch. 3 Pt. I (subject to Sch. 3 Pt. II); S.I. 2002/2024, art. 2(b)

F4 Words repealed by London Regional Transport Act 1984 (c. 32, SIF 126), s. 71(3)(a)(b), Sch. 6 para. 29(b), Sch. 7

Marginal Citations

M1 1962 c. 46.

F5 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E+W

Textual Amendments

F5 S. 3 shall cease to have effect (1.2.2001 for E. and 1.8.2001 for W.) by virtue of 2000 c. 38, s. 159; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2001/2788, art. 2, Sch. 1 para. 10 and repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2002/2024, art. 2(b)

F6 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E+W

Textual Amendments

F6 S. 4 shall cease to have effect (1.2.2001 for E. and 1.8.2001 for W.) by virtue of 2000 c. 38, s. 159; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2001 2788, art. 2, Sch. 1 para. 10 and repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2002/2024, art. 2(b)

F7 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E+W

Textual Amendments

F7 S. 5 shall cease to have effect (1.2.2001 for E. and 1.8.2001 for W.) by virtue of 2000 c. 38, s. 159; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2001/2788, art. 2, Sch. 1 para. 10 and repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3, Sch. 3 Pt. I (with Sch. 3 Pt. II); S.I. 2002/2024, art. 2(b)

6 Supplementary provisions. E+W

F8 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9

F8 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7) Before giving or withholding any approval required by section 15(2)(a) of the Act of 1968 . . . F10 the Authority shall have regard in particular to the extent to which their decision will affect the amount of revenue grants that will be needed to enable the Executive to comply with their duty under section 2 above and to the need to achieve a proper balance between the interests of the ratepayers in their area and the interests of transport users.

Textual Amendments

F8 S. 6(1)(2)(5)(6) repealed (1.2.2001 for E. and 14.8.2002 for W.) by 2000 c. 38, s. 274, Sch. 31 Pt. II; S.I. 2001/57, art. 3(2), Sch. 3 Pt. I (subject to Sch. 3 Pt. II); S.I. 2002/2024 art. 2

F9 S. 6(3)(4) repealed by Local Government Act 1985 (c. 51, SIF 81:1), ss. 39, 102(2), Sch. 12 para. 5(3)(5), Sch. 17

F10 Words repealed by London Regional Transport Act 1984 (c. 32, SIF 126), s. 71(3)(b), Sch. 7