Transport Act 1983

3 Preparation and submission of financial plans

(1) It shall be the duty of an Executive in each year to prepare in accordance with this section and submit to the Authority a plan containing their proposals for the next three years (" the relevant period ") with respect to—

(a) the general level of transport services and facilities to be provided by them or, by agreement with them, by other persons; and

(b) the general level and structure of the fares to be charged for those services, and the general level of charges to be made for those facilities, so far as they are to be charged, made or otherwise determined by the Executive.

(2) The proposals shall be such as to enable the Executive to discharge their duty under section 2 above in the relevant period ; and the plan shall contain particulars of the Executive's financial position and their financial prospects for that period together with an estimate of what would be their annual revenue and expenditure if the proposals were implemented.

(3) To the extent to which the Executive consider it necessary for the discharge of their general duty under section 9(3) of the Act of 1968 or section 5(1) of the Act of 1969, the plan may be formulated on the assumption that the Authority will in the relevant period make revenue grants of such amounts as the Executive may determine ; but if the plan is formulated on that assumption it shall be accompanied by particulars showing the benefits expected to accrue from the grants.

(4) The plan shall be accompanied by estimates of—

(a) the cost to the Executive of providing, or arranging the provision of, the services and facilities described in the proposals;

(b) the level of demand for those services and facilities; and

(c) the benefits to potential users of those services and facilities.

(5) In preparing the plan the Executive shall take into account any advice given by the Secretary of State as to the amounts that it would be appropriate for the Executive to determine under subsection (3) above and the method of determining the benefits referred to in that subsection, and generally as to the form and contents of the plan; and in preparing the estimates referred to in subsection (4) above the Executive shall take into account any advice given by him as to the method of determining the matters referred to in paragraphs (a) to (c) of that subsection.