(1)It shall be the duty of London Regional Transport to prepare, in accordance with this section, statements setting out in general terms—
(a)the policies they intend to follow with a view to the discharge of their general duty under section 2(1) of this Act; and
(b)any action they have taken or propose to take for the purpose of carrying those policies into effect during the period to which the statement relates.
(2)Any statement prepared under this section shall in particular deal with the following, that is to say—
(a)the policies and plans of any subsidiaries of theirs, including (in the case of any such statement other than the first) any major changes or developments of any such policies and plans since the last statement so prepared;
(b)any current or proposed arrangements between London Regional Transport and the Railways Board under section 2(4) of this Act; and
(c)any agreements which London Regional Transport have made or propose to make with the Railways Board or any other person in exercise of their powers under section 3 of this Act.
(3)Any statement prepared under this section shall deal with the financial prospects of London Regional Transport and any subsidiaries of theirs for the period to which the statement relates, having regard to any financial objectives determined for them by the Secretary of State under section 16 of this Act which, at the time when that statement is prepared, apply in relation to that period or any part of it.
(4)In preparing any statement under this section London Regional Transport shall consult with—
(a)the Railways Board ;
(b)the local authorities concerned ;
(c)the Passengers' Committee ; and
(d)such other persons (if any) as London Regional Transport may think fit;
and shall have regard to any considerations to which the Secretary of State may from time to time draw their attention (including, in particular, considerations of national or regional transport policy) and to the development plan for any district which appears to London Regional Transport to be affected by any policies, proposals or plans which they propose to set out in the statement.
(5)London Regional Transport—
(a)shall submit any statement prepared under this section to the Secretary of State ; and
(b)shall cause any such statement to be published in such manner as appears to them to be appropriate for informing persons appearing to them to be likely to be concerned.
(6)In the exercise and performance of their functions under this Act with respect to any matter dealt with by a statement prepared under this section, London Regional Transport shall take into account any observations the Secretary of State may make with respect to that matter following the submission to him of that statement in accordance with subsection (5)(a) above.
(7)The first statement required by subsection (1) above shall be prepared, and shall be submitted to the Secretary of State and published in accordance with subsection (5) above, before the end of the period of one year beginning with the appointed day.
(8)Each subsequent statement shall be prepared, and shall be so submitted and published, before the end of the period of three years beginning with the date on which the last statement prepared under this section was so published.
(9)For the purposes of subsection (4)(b) above, the local authorities concerned are—
(a)the Greater London Council;
(b)the councils of the London boroughs ;
(c)the Common Council; and
(d)the council of any county or district any part of whose area appears to London Regional Transport to be affected to a significant degree by any policies, proposals or plans which they propose to set out in the statement;
and the reference in that subsection to the development plan for any district shall be construed in accordance with section 20 of the [1971 c. 78.] Town and Country Planning Act 1971.
It shall be the duty of London Regional Transport to exercise their control over any subsidiaries of theirs and their powers under this Part of this Act so as to determine—
(a)the general level and structure of the fares to be charged for public passenger transport services provided by London Regional Transport or any subsidiary of theirs or by any other person in pursuance of any agreement entered into by London Regional Transport by virtue of section 3(2) of this Act;
(b)the general structure of routes of such services and the general level of provision to be made with respect to their frequency of operation ; and
(c)the general level of charges to be made for other facilities provided as mentioned in paragraph (a) above.