Part II

Re-organisation of the Railways

New companies, transfer schemes and disposals

Powers of the Board to form companies.
84
1
The Board shall have power to form, or take part in forming, companies—
a
for the purposes of the Board’s business;
b
for the purpose of facilitating the disposal of—
i
the whole or any part of the undertaking, or any property, rights or liabilities, of the Board or of any wholly owned subsidiary of the Board; or
ii
without prejudice to the generality of sub-paragraph (i) above, any securities of any subsidiary of the Board;
c
for the purpose of facilitating the performance by the Franchising Director of his functions under sections 23 to 36 above;
d
for such other purposes as may be specified by the Secretary of State in a direction to the Board.
2
The Secretary of State may, after consultation with the Board, direct the Board to exercise any power conferred by paragraph (a), (b), (c) or (d) of subsection (1) above; and, if he so directs, he may also give the Board directions with respect to—
a
the nature and objects of the company which is to be formed;
b
the manner in which, and time within which, it is to be formed.
3
The Board shall not exercise any power conferred by subsection (1) above, except—
a
in the case of the power conferred by paragraph (a), with the consent of, or pursuant to a direction given under subsection (2) above by, the Secretary of State; or
b
in any other case, pursuant to such a direction.
4
Each of the powers conferred on the Board by this section—
a
is in addition to, and not in derogation from, any other powers of the Board; and
b
relates only to the capacity of the Board as a statutory corporation;
and nothing in this section shall be construed as authorising the disregard by the Board of any enactment or rule of law.
Pt. II (ss. 84-116) excluded (retrospective to 5.11.1993) by 1994 c. 9, s. 252, Sch. 24 para. 4(1)
Pt. II (ss. 84-116) excluded (retrospective to 11.1.1994) by 1994 c. 9, s. 252, Sch. 24 para. 8(4)
Pt. II (ss. 84-116) excluded (retrospective to 5.11.1993) by 1994 c. 9, s. 252, Sch. 24 para. 17(2) (with s. 252(2))