Railways Act 1993

113 Objectives of the Secretary of State and corresponding duties of the Board

(1) It shall be the principal objective of the Secretary of State in exercising the powers conferred on him by or under sections 84 to 97 above to secure as soon as, in his opinion, is reasonably practicable the result that the function of providing railway services in Great Britain is performed by private sector operators.

(2) In pursuing that principal objective, the Secretary of State shall have regard to the desirability of—

(a) encouraging competition between those who provide railway services;

(b) maintaining efficiency, economy and safety of operation in the provision of railway services in Great Britain;

(c) providing opportunities for persons employed in railway undertakings to acquire (whether alone or jointly with others) an interest in the ownership of the undertakings in which they are employed; and

(d) securing that the disposal takes place on the most favourable financial terms that can reasonably be obtained in all the circumstances of the case;

and for the purposes of paragraph (d) above, financial terms may be regarded as “favourable” notwithstanding that any expenses incurred in procuring or effecting the disposal are not exceeded by any proceeds of sale arising from it.

(3) The Secretary of State may give the Board directions, whether of a general or specific character, requiring such steps as may be specified or otherwise described in the directions to be taken by the Board with a view to—

(a) facilitating the attainment by the Secretary of State of the principal objective specified in subsection (1) above;

(b) identifying methods of accomplishing any of the matters specified in paragraphs (a) to (d) of subsection (2) above; or

(c) generally assisting in securing the prompt and effective implementation of any proposals made by the Secretary of State for the exercise of any power conferred on him by or under this Act.

(4) Expressions used in this section and in Part I above have the same meaning in this section as they have in that Part.