Railways Act 2005

Part 4 E+W+S Financial framework and information

Financial framework E+W+S

10 (1) The Secretary of State— E+W+S

(a) must prepare, and

(b) may from time to time revise,

a document to be known as the RPC's “financial framework”.

(2) The financial framework must specify rules and principles according to which the RPC is to exercise and perform its powers and duties in relation to—

(a) financial matters; and

(b) matters relating to its employees.

(3) The RPC must not carry out any of its functions in a manner which is inconsistent with its financial framework.

(4) The fact that a transaction entered into by the RPC constitutes, or involves, a contravention of sub-paragraph (3) does not invalidate the transaction.

(5) Sub-paragraph (4) applies whether or not a person who entered into the transaction with the RPC inquired whether the transaction constituted or involved a contravention of sub-paragraph (3).

Commencement Information

I1 Sch. 5 para. 10 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.

Annual reports E+W+S

11 (1) As soon as practicable after the end of each financial year, the RPC must make a report on its activities during that year. E+W+S

(2) In preparing its annual report the RPC must have regard to the desirability of excluding from the report, so far as practicable—

(a) matters relating to the affairs of an individual which, in the opinion of the RPC, are matters the publication of which would or might seriously and prejudicially affect the interests of that individual; and

(b) matters relating specifically to the affairs of a particular body of persons (whether corporate or unincorporate) which, in the opinion of the RPC, are matters the publication of which would or might seriously and prejudicially affect the interests of that body.

(3) The RPC must send a copy of every annual report under this paragraph to each of the following—

(a) the Secretary of State;

(b) the Scottish Ministers; and

(c) the National Assembly for Wales.

(4) The RPC may also arrange for a copy of its annual report for a financial year to be published in such manner as it considers appropriate.

(5) The Secretary of State must lay before Parliament a copy of every annual report a copy of which has been sent to him under this paragraph.

(6) The Scottish Ministers must lay before the Scottish Parliament a copy of every annual report a copy of which has been sent to them under this paragraph.

Commencement Information

I2 Sch. 5 para. 11 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.

Information E+W+S

12 E+W+S The RPC must give the Secretary of State information, advice and assistance about any matter in respect of which it has any functions if—

(a) the RPC considers it appropriate to do so; or

(b) the Secretary of State asks the RPC to do so in connection with the carrying out of any function of his.

Commencement Information

I3 Sch. 5 para. 12 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.