Part IVTransport
Chapter IIILondon Regional Transport
170Powers of disposal
1
Section 9 of the [1984 c. 32.] London Regional Transport Act 1984 (powers of disposal) shall be amended as follows.
2
In subsection (1)(a) (power to dispose of securities of one of their subsidiaries) for “one of their subsidiaries” there shall be substituted “any subsidiary of theirs”.
3
At the end of the section there shall be added—
8
In this section—
“disposal” means disposal—
- a
by way of sale, exchange or lease,
- b
by way of the grant of any option or the creation of any easement, right or privilege, or
- c
in any other manner, except by way of appropriation or mortgage,
and “dispose of” shall be construed accordingly;
“lease” includes an underlease and an agreement for a lease or underlease, but does not include an option to take a lease or a mortgage.