Part IV

Local Passenger Transport Services

Further provisions with respect to companies formed under Part IV

Powers of investment and disposal in relation to public transport companies.
75
1
Without prejudice to the powers of a Passenger Transport Executive, an Integrated Transport Authority, a Passenger Transport Authority , a district council or, in Scotland, a council (other than the council for Orkney Islands, Shetland Islands or Western Isles)—
a
to subscribe for shares on formation of a company formed by them (whether alone or jointly with any other council) in pursuance of any provision of this Part of this Act; or
b
to acquire any shares in or other securities of a company so formed by way of consideration for any transfer of property, rights and liabilities to that company required or authorised under any such provision;
any such Authority or council shall have power at any time to subscribe for, take up or acquire (as the case may be) any shares in or other securities of any associated company.
2
Any such Authority or council shall each have power to provide for the disposal, in such manner as they think fit, of any such shares or other securities.
3
The exercise of the power under subsection (1) or (2) above requires the consent of the Secretary of State; and a public transport company’s controlling authority may not, without that consent, in exercise of their control over that company permit—
a
the disposal by that company of the whole of that company’s undertaking;
b
any disposal by that company of any shares in or other securities of a body corporate which is that company’s subsidiary; or
c
any disposal by that company of any part of that company’s undertaking, or of any assets of that company (other than shares or securities within paragraph (b) above) which appears to that authority (or, in the case of a composite authority, to both or all of the component councils) to affect materially the structure of the company’s business.
4
An Integrated Transport Authority A Passenger Transport Authority , a district council or, in Scotland, a council (other than the council for Orkney Islands, Shetland Islands or Western Isles) who are a public transport company’s controlling authority or (as the case may be) both or all of the component councils of a composite authority who are a public transport company’s controlling authority, may, in exercising their power under subsection (2) above in relation to the disposal of any shares in or other securities of that company, provide for an employees’ share scheme to be established in respect of that company; and any such scheme may provide for the transfer of shares without consideration.
Words in s. 75(1)(4) substituted (S.) (1.4.1996) by S.I. 1996/974, art. 2(1), Sch. 1 Pt. I para. 7(e)
Pt 4: transfer of functions (1.7.1999) by S.I. 1999/672, art. 2, Sch. 1
Words in s. 75(1) inserted (E.W.) (9.2.2009) by Local Transport Act 2008 (c. 26), s. 134(4), Sch. 4 para. 25(2); S.I. 2009/107, art. 2(1), Sch. 1 Pt. 1
Words in s. 75(4) inserted (E.W.) (9.2.2009) by Local Transport Act 2008 (c. 26), s. 134(4), Sch. 4 para. 25(3); S.I. 2009/107, art. 2(1), Sch. 1 Pt. 1
S. 75(3) repealed (E.W.) (9.2.2009 for E., 1.4.2009 for W.) by Local Transport Act 2008 (c. 26), ss. 71(3)(a), 134(4), Sch. 7 Pt. 3; S.I. 2009/107, art. 2(2), Sch. 2 Pt. 1 (with Sch. 2 para. 5); S.I. 2009/579, art. 2(h) (with Sch. para. 3)
Pt. 4: transfer of functions (E.W.) (1.4.2014) by The Halton, Knowsley, Liverpool, St Helens, Sefton and Wirral Combined Authority Order 2014 (S.I. 2014/865), arts. 1, 8(1)(a) (with arts. 8(4), 12)
Pt. 4: transfer of functions (E.W.) (15.4.2014) by The Durham, Gateshead, Newcastle Upon Tyne, North Tyneside, Northumberland, South Tyneside and Sunderland Combined Authority Order 2014 (S.I. 2014/1012), arts. 1, 8, 9 (with art. 11)
Pt. 4: delegation of functions (E.W.) (1.4.2016) by The Tees Valley Combined Authority Order 2016 (S.I. 2016/449), arts. 1(a), 6(a)
Pt. 4: functions made exercisable (E.W.) (9.2.2017) by The West of England Combined Authority Order 2017 (S.I. 2017/126), arts. 1(3), 8
Pt. 4: functions made exercisable (E.W.) (3.3.2017) by The Cambridgeshire and Peterborough Combined Authority Order 2017 (S.I. 2017/251), arts. 1(2)(b), 8(a)
Pt. 4 functions made exercisable (E.W.) (8.5.2017) by The Tees Valley Combined Authority (Functions and Amendment) Order 2017 (S.I. 2017/431), arts. 1(2), 4(1)(a)
Pt. 4: transfer of functions (E.W.) (2.11.2018) by The Newcastle Upon Tyne, North Tyneside and Northumberland Combined Authority (Establishment and Functions) Order 2018 (S.I. 2018/1133), arts. 1, 7 (with art. 28)
Pt. 4 functions made exercisable (E.W.) (2.11.2018) by The Newcastle Upon Tyne, North Tyneside and Northumberland Combined Authority (Establishment and Functions) Order 2018 (S.I. 2018/1133), arts. 1, 9 (with art. 28)
Pt. 4: functions made exercisable (E.W.) (20.12.2023) by The York and North Yorkshire Combined Authority Order 2023 (S.I. 2023/1432), arts. 1(2), 13(1)(2)
Ss. 72-76: functions made exercisable concurrently (E.) (28.2.2024) by The East Midlands Combined County Authority Regulations 2024 (S.I. 2024/232), regs. 1(2), 14(4)
Pt. 4: functions made exercisable (E.) (28.2.2024) by The East Midlands Combined County Authority Regulations 2024 (S.I. 2024/232), regs. 1(2), 14(1)
Pt. 4: functions made exercisable concurrently (E.W.) (7.5.2024) by The North East Mayoral Combined Authority (Establishment and Functions) Order 2024 (S.I. 2024/402), arts. 1(3), 19(b) (with art. 9)
Pts. 4, 5: transfer of functions (E.) (5.2.2025) by The Hull and East Yorkshire Combined Authority Order 2025 (S.I. 2025/113), arts. 1(2), 7
Pts. 4, 5: transfer of functions (E.) (5.2.2025) by The Devon and Torbay Combined County Authority Regulations 2025 (S.I. 2025/115), regs. 1(2), 9
Pts. 4, 5: functions made exercisable (E.) (5.2.2025) by The Greater Lincolnshire Combined County Authority Regulations 2025 (S.I. 2025/117), regs. 1(2), 13
Pts. 4, 5: functions made exercisable (E.) (5.2.2025) by The Lancashire Combined County Authority Regulations 2025 (S.I. 2025/118), regs. 1(2), 9