Part 4General provisions relating to passenger transport
Public transport companies etc
71Removal of certain disabilities and requirements for consent
1
Part 4 of the TA 1985 (which makes provision for the establishment of public transport companies and for the powers of Passenger Transport Authorities etc in relation to them) is amended as follows.
2
In section 74 (disabilities of directors of public transport companies), omit subsections (3) to (12).
3
Each of the following (which require the consent of the Secretary of State for the exercise of certain powers) is omitted—
a
section 75(3) (subscription for, or acquisition or disposal of, certain shares, securities or other property or assets etc);
b
section 79(3) (making or guaranteeing of certain loans);
c
section 79(7) (guarantees etc in connection with disposals of certain shares, securities or other property or assets etc);
d
in section 79(8) (provision of financial assistance by way of grants, loans, etc) the words “, with the consent of the Secretary of State,”.