London Underground Act 1992

By the [1984 c. 32.] London Regional Transport Act 1984 the London Transport Executive which were established by the [1969 c. 35.] Transport (London) Act 1969 were reconstituted on 29th June 1984 under the name of London Regional Transport (in this Act referred to as “the Corporation”):

It is the general duty of the Corporation under the said Act of 1984, in accordance with principles from time to time approved by the Secretary of State and in conjunction with the British Railways Board, to provide or secure the provision of public passenger transport services for Greater London, and in carrying out that duty the Corporation shall have due regard to (a) the transport needs for the time being of Greater London and (b) efficiency, economy and safety of operation:

London Underground Limited (in this Act referred to as “the Company”) were incorporated as a wholly-owned subsidiary of the Corporation by virtue of the [1984 c. 32.] London Regional Transport Act 1984 and the Companies Acts 1948 to 1981 (inter alia) to acquire and take over, as a going concern, that part of the undertaking of the Corporation responsible for operating the railway system of the Corporation (other than the Docklands Railway) and for the maintenance of such railway system and to carry on, develop and turn to account that part of that undertaking and all property and assets acquired from the Corporation in connection therewith:

By the London Regional Transport Underground Railway Asset Transfer Scheme 1985 made under the provisions of section 4 (7) of the said Act of 1984 there were transferred from the Corporation to the Company all the property, rights and liabilities comprised in those parts of the Corporation’s undertaking connected with the Corporation’s underground railway services (except as provided in the said Scheme) together with any functions under any statutory provision relating to the Corporation’s underground railway:

The works authorised and the powers conferred by this Act will contribute both to the meeting of the statutory duty mentioned in recital (2) above and to the regeneration of London docklands:

It is expedient that for the purposes aforesaid the Corporation and the Company should be empowered to construct the works authorised by, and to acquire the lands referred to in, this Act:

It is expedient that the other powers in this Act contained should be conferred upon the Corporation and the Company and that the other provisions of this Act contained should be enacted:

This Act is founded on two Bills, namely, the London Underground Bill deposited in November 1989 and the London Underground (No. 2) Bill deposited in November 1990, which Bills were consolidated, with amendments, into one Bill by the Committee of the House of Commons to which both Bills were referred:

Plans and sections showing the lines or situations and levels of the works to be constructed under the powers of this Act, and plans of the lands authorised to be acquired or used by this Act, and books of reference to such plans containing the names of the owners and lessees or reputed owners and lessees and of the occupiers of the said lands, were duly deposited in the office of the Clerk of the Parliaments and in the Private Bill Office of the House of Commons and with the proper officers of the London borough councils affected by the works:

The purposes of this Act cannot be effected without the authority of Parliament: