Part IV Transport

Chapter III London Regional Transport

171 Power to give guarantees.

(1)

Section 17 of the M1London Regional Transport Act 1984 (power of London Regional Transport to give financial assistance to subsidiaries and other bodies or persons) shall be amended as follows.

(2)

In subsection (2) after section 3(2) there shall be inserted “ or (2A) ”.

(3)

After subsection (3) there shall be inserted—

“(3A)

London Regional Transport may enter into arrangements with another person under which that person gives a guarantee which London Regional Transport has power to give under this section.

(3B)

Where London Regional Transport enters into arrangements by virtue of subsection (3A) above, the arrangements may provide for London Regional Transport to indemnify the person who gives the guarantee.”