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.