Railways Act 2005

Part 4 E+W+S Financial framework and information

Financial framework E+W+S

10 (1) The Secretary of State— E+W+S

(a) must prepare, and

(b) may from time to time revise,

a document to be known as the [F1 PC]'s “financial framework”.

(2) The financial framework must specify rules and principles according to which the [F1 PC] is to exercise and perform its powers and duties in relation to—

(a) financial matters; and

(b) matters relating to its employees.

(3) The [F1 PC] must not carry out any of its functions in a manner which is inconsistent with its financial framework.

(4) The fact that a transaction entered into by the [F1 PC] constitutes, or involves, a contravention of sub-paragraph (3) does not invalidate the transaction.

(5) Sub-paragraph (4) applies whether or not a person who entered into the transaction with the [F1 PC] inquired whether the transaction constituted or involved a contravention of sub-paragraph (3).

Textual Amendments

F1 Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)

Commencement Information

I1 Sch. 5 para. 10 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.

Annual reports E+W+S

11 (1) As soon as practicable after the end of each financial year, the [F1 PC] must make a report on its activities during that year. E+W+S

(2) In preparing its annual report the [F1 PC] must have regard to the desirability of excluding from the report, so far as practicable—

(a) matters relating to the affairs of an individual which, in the opinion of the [F1 PC], are matters the publication of which would or might seriously and prejudicially affect the interests of that individual; and

(b) matters relating specifically to the affairs of a particular body of persons (whether corporate or unincorporate) which, in the opinion of the [F1 PC], are matters the publication of which would or might seriously and prejudicially affect the interests of that body.

(3) The [F1 PC] must send a copy of every annual report under this paragraph to each of the following—

(a) the Secretary of State;

(b) the Scottish Ministers; and

(c) the National Assembly for Wales.

(4) The [F1 PC] may also arrange for a copy of its annual report for a financial year to be published in such manner as it considers appropriate.

(5) The Secretary of State must lay before Parliament a copy of every annual report a copy of which has been sent to him under this paragraph.

(6) The Scottish Ministers must lay before the Scottish Parliament a copy of every annual report a copy of which has been sent to them under this paragraph.

Textual Amendments

F1 Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)

Commencement Information

I2 Sch. 5 para. 11 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.

Information E+W+S

12 E+W+S The [F1 PC] must give the Secretary of State information, advice and assistance about any matter in respect of which it has any functions if—

(a) the [F1 PC] considers it appropriate to do so; or

(b) the Secretary of State asks the [F1 PC] to do so in connection with the carrying out of any function of his.

Textual Amendments

F1 Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)

Commencement Information

I3 Sch. 5 para. 12 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.