PART 1Strategic highways companies

Functions

3Road Investment Strategy

1

The Secretary of State may at any time—

a

set a Road Investment Strategy for a strategic highways company, or

b

vary a Strategy which has already been set.

2

A Road Investment Strategy is to relate to such period as the Secretary of State considers appropriate.

3

A Road Investment Strategy must specify—

a

the objectives to be achieved by the company during the period to which it relates, and

b

the financial resources to be provided by the Secretary of State for the purpose of achieving those objectives.

4

The objectives to be achieved may include—

a

activities to be performed;

b

results to be achieved;

c

standards to be met.

5

In setting or varying a Road Investment Strategy, the Secretary of State must have regard, in particular, to the effect of the Strategy on—

a

the environment, and

b

the safety of users of highways.

6

The Secretary of State and the company must comply with the Road Investment Strategy.

7

If a strategic highways company does not have a Road Investment Strategy currently in place, the Secretary of State must—

a

lay before Parliament a report explaining why a Strategy has not been set, and

b

set a Road Investment Strategy as soon as may be reasonably practicable.

8

Schedule 2 (which contains provision about the procedure for setting or varying a Road Investment Strategy) has effect.