(1)London Regional Transport shall, in the case of such activities carried on by them as they may determine to be appropriate, invite other persons to submit tenders to carry on those activities for such period and on such basis as may be specified in the invitation to tender.
(2)London Regional Transport shall exercise their control over any subsidiary of theirs so as to require any such subsidiary, in the case of such activities carried on by that subsidiary as London Regional Transport may determine to be appropriate, to invite other persons to submit tenders to carry on those activities for such period and on such basis as may be so specified.
(3)London Regional Transport—
(a)shall accept a tender invited by them in pursuance of this section; and
(b)shall exercise their control over any subsidiary of theirs so as to cause that subsidiary to accept a tender invited by that subsidiary in any case within subsection (2) above;
if it appears to them that to do so would result in the relevant activities being carried on in a satisfactory manner and at less cost to them or (as the case may be) to that subsidiary than if they or that subsidiary were to continue to carry on those activities.
(4)Every annual report of London Regional Transport under section 34 of this Act shall contain a statement showing the steps which London Regional Transport have taken in the accounting year to which the report relates to comply with the requirements of subsections (1) and (2) above.
(5)For the purposes of any reference in this or any other Act to an agreement entered into by virtue of section 3(2) of this Act, any agreement concluded by London Regional Transport under this section shall be taken to be within that reference.
Textual Amendments applied to the whole legislation
F1Act repealed (prosp.) by 1999 c. 29, ss. 423, 425(2), Sch. 34 Pt. II (with Sch. 12 para. 9(1))