(1)Subject to the provisions of this Act, the undertakings specified in the Second Schedule to this Act shall on the appointed day, by virtue of this Act, be transferred to and vest in the Board.
(2)The transfer effected by this section shall (subject to the provisions of section eighty-two of this Act) extend—
(a)in the case of each of the undertakings specified in Part I of the said Schedule, other than the tramway and fight railway undertaking of the South Metropolitan Electric Tramways and Lighting Company, Limited, (all of which undertakings, together with the last-mentioned undertaking, are in this Act referred to as " the Underground undertakings "), to the whole of the undertaking, including all lands, works, and other property, assets, powers, rights and privileges held or enjoyed in connection therewith or appertaining thereto and any rights or interests of the undertakers in any other undertaking; and
(b)in the case of the tramway and light railway undertaking of the South Metropolitan Electric Tramways and Lighting Company, Limited, to the whole of the undertaking including all lands, works, and other property, assets, powers, rights and privileges held or enjoyed in connection therewith or appertaining thereto (other than transforming stations, investments, cash or other liquid assets or book debts and any rights or interests of the undertakers in any other undertaking); and
(c)in the case of the undertaking specified in Part II of the said Schedule (in this Act referred to as " the Metropolitan undertaking ") to the whole of the undertaking including all lands, works and other property, assets, powers, rights and privileges held or enjoyed in connection therewith or appertaining thereto and any rights or interests of the undertakers in any other undertaking but excluding the undertaking of the Surplus Lands Committee as hereinafter in this Act defined; and
(d)in the case of each of the undertakings specified in Part III of the said Schedule (in this Act referred to as " the local authorities' undertakings ") to the whole of the undertaking including all lands, works and other property, assets (other than moneys representing any fund established by the authority for the redemption of any loan raised by them for the purposes of the transferred undertaking), powers, rights and privileges held or enjoyed in connection therewith or appertaining thereto, other than such lands or buildings as the Board and the local authority concerned may before the appointed day agree to exclude, or in default of agreement as the arbitration tribunal may determine ought to be excluded, from the transfer effected by this section as being lands or buildings which are not being used for the purposes of the transferred undertaking and are not likely to be required for those purposes, or, in the case of the undertaking of the mayor, aldermen and burgesses of the county borough of West Ham, other than the lands or buildings delineated in red on the maps lettered ' A,' ' B ' and ' C ' signed by the Treasury Solicitor and by the borough surveyor of the said county borough and deposited with the Ministry of Transport; and
(e)in the case of each of the undertakings specified in Part IV or Part V of the said Schedule (in this Act referred to as " the Tilling undertakings " and " the independent undertakings " respectively)—
(i)to such part of the undertaking as consists in the provision of services of stage carriages in respect of which schedules have been deposited with the licensing authority under section six of the [14 & 15 Geo. 5. c. 34.] London Traffic Act, 1924, consequent upon the grant of a licence under the [32 & 33 Vict. c. 115.] Metropolitan Public Carriage Act, 1869, subject to the condition of not plying for hire without the consent of the licensing authority except in maintaining regular services on approved routes, including any property of the owners of the undertaking (other than book debts or cash) which was immediately before the appointed day wholly or mainly applied to, or used in connection with, the provision of those services, and any unexpired licence or insurance in respect of any such property; and
(ii)in any case where the owners of the undertaking by notice in writing served on the Board not later than three months from the passing of this Act claim that the transfer to the Board of part only of their undertaking would injuriously affect a part of their undertaking not so transferred, to so much of that remaining part as consists in running public service vehicles wholly or mainly in the London Passenger Transport Area and as the Board by a requisition in writing served on the owners not later than three months from the receipt of the notice elects to take over:
Provided that, if the Premier Omnibus Company, limited, by notice in writing served as aforesaid claims that the transfer to the Board of the whole or part only of the undertaking of that company would injuriously affect the undertaking of the Premier Line, Limited, the Board shall take over the whole undertaking of the Premier Line, Limited, including all lands, works, and other property, powers, rights, and privileges held or enjoyed in connection therewith or appertaining thereto (other than investments, cash, or other liquid assets or book debts and the freehold premises comprising a garage situate in Bicester Road, Aylesbury, in the county of Buckingham, and any rights or interests of the undertakers in any other undertaking) and for the purposes of this Act the undertaking so taken over shall be deemed to be an undertaking specified in Part V of the Second Schedule to this Act; and
(f)in the case of the undertaking specified in Part VI of the said Schedule (in this Act referred to as " the Lewis undertaking ") to the whole of that undertaking, including all lands, works, and other property, assets, powers, rights, and privileges held or enjoyed in connection therewith or appertaining thereto and any rights or interests of the undertakers in any other undertaking.
For the purposes of sub-paragraph (ii) of paragraph (e) of this subsection and of paragraph (a) of subsection (6) of section fourteen of this Act the undertaking of the Westminster Omnibus Company, Limited, and the undertaking of the Westminster Coaching Services, Limited, shall be deemed to be one undertaking owned by the Westminster Omnibus Company, Limited.
(3)If any question arises as to the extent of any transfer effected or to be effected by this section, that question shall, subject to the provisions of this section, be referred to the arbitration tribunal constituted under this Act.
(4)Subject to the provisions of this Act, the Board, on the transfer of any undertaking specified in Parts I, II, III or VI of the Second Schedule to this Act—
(a)may exercise and enforce all the rights, powers and privileges which were immediately before the appointed day vested in the undertakers in respect of the undertaking; and
(b)shall, to the exclusion of the undertakers, be subject to all liabilities and obligations, whether arising by statute or otherwise howsoever, to which the undertakers were subject immediately before the appointed day in respect of the undertaking :
Provided that—
(i)no liability or obligation of a local authority in respect of any loan raised for the purposes of a transferred undertaking and further in the case of the Hertfordshire County Council, London County Council and Middlesex County Council, and in the case of the mayor, aldermen and burgesses of the county borough of West Ham, no liability or obligation in respect of capital expenditure on work done, services rendered, goods delivered, or land or property acquired before the appointed day shall be transferred to the Board, and any dispute which may arise between the Board and any of those councils or that corporation under this proviso shall, in default of agreement, be determined by an arbitrator to be agreed or to be appointed by the Minister of Health:
(ii)no liability or obligation in respect of any debenture stock or other like security in substitution for which transport stock is issued under this Act shall be transferred to the Board;
(iii)no liability or obligation to which the Board is made subject, and no right, power or privilege vested in the Board, by virtue of this section by reason of the transfer to the Board of any undertaking shall be taken to extend to, or apply in respect of, any part of the undertaking of the Board other than so much thereof as represents the transferred undertaking;
(iv)the Board shall not by virtue of this section be entitled to exercise any power of borrowing which was before the appointed day exerciseable by the undertakers of any transferred undertaking;
(v)the Board shall not by virtue of this section be entitled to exercise any power vested in any undertaker being an existing company within the meaning of the [19 & 20 Geo. 5. c. 23.] Companies Act, 1929, unless that power was conferred on that undertaker by a special Act or order having the force of an Act or had been exercised by that undertaker before the appointed day;
(vi)the Board shall not by virtue of this section be entitled to exercise any rights under section twenty-seven of the [4 Edw. 7. c. ccxi.] Leyton Urban District Council Act, 1904, save with the consent in writing of the mayor, aldermen and burgesses of the Borough of Leyton;
(vii)no liability of the tramway and light railway undertaking of the South Metropolitan Electric Tramways and Lighting Company, Limited, in respect of work done, services rendered, goods delivered or money borrowed before the appointed day shall be transferred to the Board;
(viii)the Board shall not without the consent in writing of the mayor, aldermen and burgesses of the county borough of Croydon exercise the powers which were conferred upon the said mayor, aldermen and burgesses by so much of Part IV of the [14 & 15 Geo. 5. c. xcviii.] Croydon Corporation Act, 1924, as relates to trolley vehicles;
(ix)the transfer effected by this section shall not extend in the case of the London County Council or in the case of the mayor, aldermen and burgesses of the county borough of West Ham to any rights in the Consolidated Loans Fund of that council or of that corporation;
(x)in respect of any roads whereon any light railway is laid by virtue of the Middlesex Light Railways Orders, 1901 to 1932, the Board shall be subject to the same liability to repair, maintain, and keep in good condition parts of the roads of which the Middlesex County Council are the highway authority as they are, by virtue of the transfer effected by this section, subject to in respect of parts of the roads of which the said county council are not the highway authority; and the said county council shall, in respect of the roads of which they are the highway authority, have all the powers, rights, and privileges which by the County of Middlesex Light Railways Orders, 1901 to 1932, and Part IV of the [15 & 16 Geo. 5. c. xciv.] Middlesex County Council Act, 1925, are vested in highway authorities other than the said county council;
(xi)the liability of the Middlesex County Council under subsection (2) of section twenty-five of the County of Middlesex Light Railways Order, 1901, subsection (2) of section twenty-five of the County of Middlesex Light Railways Order, 1903, and subsection (2) of section twenty-five of the County of Middlesex (Waltham Cross and Enfield) Light Railways Order, 1906, or under any of the said subsections as incorporated with, or made applicable to, the County of Middlesex Light Railways Orders, 1901 to 1932, shall continue to be and shall be deemed always to have been discharged by the Middlesex County Council as highway authority;
(xii)the Middlesex County Council may and, if so required by the Board, shall at the expense of the council lay down, execute and complete to the satisfaction of the Minister the tramways and works authorised by section fifteen of the Middlesex County Council Act, 1925, within the period limited by that Act as extended by any subsequent enactment and for that purpose may exercise all the powers conferred and shall be subject to all the obligations imposed on the council by that Act in connection therewith;
(xiii)the powers and obligations conferred or imposed on the Middlesex County Council by any, order made by the Minister under the Light Railways Acts, 1896 to 1912, in pursuance of an application made to the Minister by the council on the thirtieth day of October, nineteen hundred and thirty-one, for an order authorising the making of a light railway in the urban district of Finchley, or by any agreement made in contemplation of that order, shall remain vested in the council until the railway as defined and authorised by the order is laid down and completed, and the council, if so required by the Board, shall at the expense of the council complete the railway within the period limited by the order or by any subsequent order extending the period and, if the Minister certifies that the railway has been duly constructed and that all the obligations of the council in connection with its construction have been discharged, the undertaking authorised by the order (except any land acquired by the council under the powers conferred on the council by the order) shall, as from the date of the certificate or such later date as may be specified in the certificate, by virtue of this Act be transferred to and vest in the Board; and
(xiv)all rights, powers and privileges vested in or purporting to be vested in, and all liabilities and obligations imposed on or purporting to be imposed on the undertakers by virtue of any private or local Act which receives the Royal Assent in the same session of Parliament as this Act shall for the purposes of this Act be deemed in so far as they relate to undertakings transferred to the Board by this Act to have been vested in or imposed on the undertakers immediately before the appointed day.
(1)Subject to the provisions of this section, no rights or liabilities arising by virtue of any contract between the Associated Equipment Company Limited (in this section referred to as the " Equipment Company") and any of the undertakers specified in Part I of the Second Schedule to this Act shall be transferred to the Board by this Act and as from the appointed day any such contract as aforesaid shall be discharged.
(2)It shall be lawful for the Board at any time after the appointed day to enter into any such contract as they may think fit with the Equipment Company in relation to the supply to the Board of public service vehicles or spare parts or otherwise for the purposes of the undertaking of the Board.
(3)If within six months from the appointed day no such contract as aforesaid is entered into by the Board, the Equipment Company shall be entitled to recover from the Board such compensation as may be agreed or in default of agreement as may be determined by the arbitration tribunal in respect of any loss which the Equipment Company would have suffered on the following assumptions:—
(a)that a contract in the form of the pro forma contract identified by the signatures of the Treasury Solicitor and of the Secretary of the Equipment Company had been entered into between the London General Omnibus Company, Limited, and the Equipment Company immediately before the appointed day and had been transferred to the Board by this Act; and
(b)that the Board had repudiated that contract immediately after the appointed day.
(4)This section shall not apply to rights or liabilities arising by virtue of the deed of covenant made the twelfth day of May, nineteen hundred and thirty, between the Equipment Company and the Union Surplus Lands Company, Limited, or any deed of covenant varying or amending the aforementioned deed of covenant.
(5)For the purposes of this section the appointed day means the first day of July, nineteen hundred and thirty-three.
(1)In the case of the Underground undertakings the Board shall, as consideration for the transfer to the Board of those undertakings, issue to the several companies owning those undertakings in such manner as is provided by this Act, the amounts of stock created under this Act (in this Act referred to as " transport stock") which are specified in Part I of the Third Schedule to this Act and of the classes therein specified and the stock so issued shall, in the case of the companies specified in Part II of the said Schedule, be distributed among the holders of the existing debenture and other stocks and shares of those companies at the rates of substitution specified in that Part:
Provided that, where any of the companies specified in Part I of the said Schedule (other than the Tramways (M.E.T.) Omnibus Company, Limited) has at any time after the thirty-first day of December, nineteen hundred and thirty, and before the appointed day redeemed any debenture stocks of the company, the appropriate reduction calculated on the basis of the said rates of substitution shall be made in the transport stock to be issued to the company under this section.
(2)In the case of the Metropolitan undertaking the Board shall, as consideration for the transfer to the Board of that undertaking, issue to the company owning the undertaking in such manner as is provided by this Act the amounts of transport stock which are specified in Part I of the Fourth Schedule to this Act and of the classes therein specified, and the stock so issued shall be distributed among the holders of the existing stocks of the company (other than the Four per cent. Terminable Debenture Stock) at the rates of substitution specified in Part II of the said Schedule.
(3)No interest shall accrue due in respect of any period after the appointed day on any existing debenture stock or other stock in substitution for which transport stock is to be distributed under the preceding subsections of this section.
(4)The provisions of the Fifth Schedule to this Act shall have effect in relation to and for the purpose of the distribution of the transport stock issued under the preceding subsections of this section.
(5)In the case of a Tilling undertaking the Board shall, as consideration for the transfer of the part of the undertaking transferred to the Board, issue to the undertakers such an amount of transport stock as may under the next following section of this Act be agreed or determined by arbitration.
(6)In the case of an independent undertaking, or the Lewis undertaking, the Board shall pay or issue to the undertakers as consideration for the transfer of the undertaking or the part of the undertaking transferred to the Board such an amount of cash or of transport stock, or of both cash and transport stock, as may under the next following section of this Act be agreed or determined by arbitration:
Provided that, subject to the provisions of subsection (3) of the said section, the consideration shall, at the option of the undertaker, be payable wholly in cash or wholly in transport stock, or partly in cash and partly in transport stock, in such proportions as the undertaker may require.
(1)The Board and any undertakers to whom this section applies being undertakers whose undertaking is by this Act transferred in whole or in part to the Board may enter into an agreement as to the consideration to be given by the Board for the transfer, but no such agreement shall have effect unless and until it has been confirmed by the arbitration tribunal to be constituted under this Act and the tribunal may confirm any such agreement either with or without modification.
(2)Subject to the provisions of this Act the amount and nature of the consideration, shall be determined by the arbitration tribunal in accordance with the provisions of this Act in the following cases, that is to say—
(a)where the undertakers or the Board notify the tribunal that they are unable to agree;
(b)where an agreement submitted to the tribunal for confirmation is not confirmed by the tribunal; and
(c)where no such agreement as aforesaid has been so submitted to the tribunal within six months after the passing of this Act or within such longer period as the Minister, either generally or in relation to any particular case, may prescribe;
and in any case where the undertakers or the Board notify the tribunal that they are unable to agree, or where no such agreement as aforesaid has been submitted within the time so limited, either party may, and, if no scheme is submitted before the expiration of the time so limited, the Board, so soon as maybe, shall, prepare and submit to the tribunal a scheme setting out the amount and nature of the consideration which the party so submitting the scheme considers ought to be accepted by the tribunal as being in accordance with the provisions of this Act.
(3)Where in pursuance of the last preceding subsection the amount and nature of the consideration payable in respect of the transfer of an independent undertaking, or of the Lewis undertaking, is to be determined by the arbitration tribunal, the undertakers shall for the purposes of subsection (6) of section seven of this Act be deemed to have elected to have the consideration paid wholly in cash unless, within such time and in such manner as the arbitration tribunal may direct, they elect to have the consideration paid wholly or partly in transport stock.
(4)The undertakers to whom this section applies are the undertakers specified in Parts IV, V and VI of the Second Schedule to this Act.
(1)In the case of a local authority's undertaking being an undertaking owned by a local authority specified in the Sixth Schedule to this Act, the Board shall, on or as soon as may be after the appointed day, as consideration for the transfer to the Board of that undertaking, issue to the local authority in such manner as is provided by this Act transport stock of the amount and class shown against the name of that authority in the second column of that Schedule; and in the event of any land or buildings which immediately before the appointed day formed part of the transferred undertaking being excluded, either by agreement between the local authority and the Board or in accordance with a determination of the arbitration tribunal, from the transfer in accordance with the provisions of paragraph (d) of subsection (2) of section five of this Act the authority shall pay to the Board such sum as may be agreed or in default of agreement as may be determined by the arbitration tribunal to be the equivalent of the outstanding liabilities or obligations of the authority as at the appointed day in respect of so much of any loan raised by them as has been applied for the purposes of the land or buildings so excluded.
(2)In the case of the undertaking of the Bexley Urban District Council (in this Act referred to as " the Bexley undertaking") and in the case of the undertaking of the mayor, aldermen and burgesses of the borough of Ilford (in this Act referred to as " the Ilford undertaking ") the Board shall as consideration for the transfer to the Board of that undertaking issue to the local authority in such manner as is provided by this Act transport stock of such amount and class as may under the next following section of this Act be agreed or determined by arbitration.
(3)In the case of any other local authority's undertaking the Board, in order to enable the authority to satisfy their outstanding liabilities or obligations in respect of any loan raised by them for the purposes of the transferred undertaking as and when they fall to be met, shall, as consideration for the transfer to the Board of that undertaking—
(a)where the authority have established a fund for the redemption of the loan—
(i)pay to the authority from time to time sums by way of capital payment equal to the amounts of the annual or other periodical contributions which, regard being had to the interest for the time being earned by the moneys representing the fund, it is necessary to pay into the fund in respect of any period after the appointed day in order to make provision for the repayment of the loan within the redemption period; and
(ii)so long as the moneys representing the fund are insufficient to redeem the loan, make annual payments to the authority (either half-yearly or at some shorter period) equal to the annual amounts of any interest due on the loan;
(b)where provision has been made for the redemption of the loan by instalments—
(i)if the instalments do not include interest, pay to the authority sums by way of capital payment equal to the amounts of the instalments and also make annual payments (either half-yearly or at some shorter period) equal to the annual amounts of any interest due on the loan; or
(ii)if the instalments are instalments of principal and interest combined, pay to the authority sums by way of capital payment equal to the amounts of principal included in the instalments and concurrently therewith make annual payments equal to the amounts of interest included in the instalments :
Provided that—
(i)the redemption period by reference to which the amount of any such contribution or instalment as aforesaid is to be calculated shall, unless the Board otherwise agree, be the period by reference to which the contributions to be made or instalments to be paid, as the case may be, were calculated during the last complete financial year before the appointed day; and
(ii)the consideration payable for the transfer of the undertaking of the local authority may, if it is so agreed between the Board and the authority, and the agreement is confirmed in manner provided by the next following section, be satisfied by the issue to the authority of such an amount of transport stock as may be so agreed as sufficient to enable the authority to discharge their liabilities in respect of the said loans.
(4)For the purposes of this Act—
(a)references to a loan raised by a local authority for the purposes of a transferred undertaking shall, where a loan has been raised by a local authority both for the purposes of a transferred undertaking and for other purposes, be construed as references to such part of the loan as had before the appointed day been applied for the purposes of the transferred undertaking;
(b)where a loan has been raised both for the purposes of a transferred undertaking and for other purposes, references to any fund established for the redemption of any such loan or to moneys representing any such fund or to any instalment for the redemption of any such loan shall be construed as references to such portion of the fund, or of the moneys representing the fund, or of the instalment, as relates to the part of the loan which had before the appointed day been applied for the purposes of the transferred undertaking;
(c)where a tramway which originally formed part of a transferred undertaking has been abandoned before the appointed day, so much of any loan as had before the appointed day been applied for the purposes of the part of the undertaking so abandoned shall be treated as a loan raised for the purposes of the transferred undertaking; and
(d)where any land or buildings which immediately before the appointed day formed part of a local authority's undertaking have been excluded from the transfer of that undertaking in accordance with the provisions of paragraph (d) of subsection (2) of section five of this Act, any liability of the local authority in respect of the redemption of, or the payment of interest upon, any loan raised by them and applied for the purposes of the land or buildings so excluded shall not be taken into account in determining the amount of the payments to be made or of the transport stock to be issued by the Board to the authority as consideration for the transfer of the undertaking.
(1)The Board and any local authority whose undertaking is transferred to the Board by this Act (not being a local authority specified in the Sixth Schedule to this Act) may enter into an agreement as to the consideration payable for the transfer in accordance with the provisions of this Act and as to the dates on which and the manner in which that consideration is to be paid; but no such agreement shall have effect unless and until it has been confirmed by the arbitration tribunal and the tribunal may confirm any such agreement either with or without modification.
(2)Where no such agreement as aforesaid has been submitted to the tribunal within six months after the passing of this Act or within such longer period as the Minister either generally or in relation to any particular case may prescribe, the Board, so soon as may be, shall prepare and submit to the tribunal a scheme setting out, in the case of the Bexley or the Ilford undertaking, the amount and class of transport stock which the Board consider ought to be awarded by the tribunal as consideration for the transfer of that undertaking and providing, in the case of any other local authority's undertaking, for the calculation of the sums to be paid by the Board as consideration for the transfer which the Board consider ought to be accepted by the tribunal as being in accordance with the provisions of this Act and, where any scheme is so submitted, all questions covered by the scheme shall be determined by the arbitration tribunal.
(3)If after the date on which any such agreement or scheme as aforesaid has been confirmed or determined by the arbitration tribunal any dispute arises between the Board and a local authority as to any matter arising out of the agreement or scheme, that dispute shall be determined by the arbitration tribunal, or if that tribunal has been dissolved, by an arbitrator to be agreed or failing agreement to be appointed by the Minister of Health.
Pending the confirmation of an agreement as to, or the determination by arbitration of, the consideration to be given by the Board for the transfer of any undertaking, or part of an undertaking, the Board shall from time to time pay to the undertakers—
(a)in the case of a local authority (not being a local authority specified in the Sixth Schedule to this Act or an authority which by this Act is to receive or which has agreed with the Board to accept an issue of transport stock), such sums on account of the consideration as may be necessary to enable the authority to meet its obligations in respect of the redemption or repayment of and interest on any loan raised by the authority for the purposes of the transferred undertaking, after taking into account any moneys then representing any fund established by the local authority for the redemption of the loan and any interest then earned by those moneys; and
(b)in any other case, amounts on account of any payments to be made in cash, or on account of interest on any transport stock to which those owners may ultimately become entitled;
and, in default of agreement, the amount of any payments to be made under this section and the dates on which those payments are to be made, shall be determined by the arbitration tribunal.
(1)For the purposes of this Act there shall be constituted a tribunal, to be called the London Passenger Transport Arbitration Tribunal (in this Act referred to as "the arbitration tribunal") consisting of three commissioners, of whom one, who shall be the president, shall be a person of legal experience, one shall be a person of experience in business and one shall be a person of experience in finance.
(2)The commissioners shall hold office until all questions to be disposed of by them under the provisions of this Act other than questions referred to in subsection (3) of section ten or in subsection (5) of section sixteen of this Act have been so disposed of.
(3)The commissioners shall be appointed by the Lord Chancellor, and in the event of any vacancy occurring among the commissioners for the time being by death, resignation, or otherwise, before the expiration of their term of office, the Lord Chancellor may appoint a person to fill the vacancy.
(4)If any commissioner becomes, by reason of illness or other infirmity, temporarily incapable of performing the duties of his office, the Lord Chancellor may appoint some other fit person to discharge his duties for any period not exceeding six months at one time, and the person so appointed shall, during that period, have the same powers as the commissioner in whose place he is appointed.
(5)The arbitration tribunal shall be a court of record and shall have an official seal, which shall be judicially noticed.
(6)The arbitration tribunal may hold such inquiries as appear to the tribunal to be necessary for the purpose of the proper discharge of the functions of the tribunal under this Act.
Before holding any such inquiry the tribunal shall give such public notice as appears to them best adapted for informing persons affected of the date on which and the place at which the inquiry will be held.
(7)The arbitration tribunal shall take into consideration any objections to any agreement or scheme which are, within the prescribed time and in the prescribed manner, lodged by any person or any class or body of persons affected by the agreement or scheme or by any organisation representative of labour engaged in any transferred undertaking or by any local authority whose area, or any part of whose area, is comprised in the London Passenger Transport Area and, where any objection is so lodged and is not withdrawn, shall hear in support thereof any person who is authorised by the party lodging the objection to appear in support thereof unless the tribunal consider the objection to be unreasonable.
(8)The provisions of the [53 & 54 Vict. c. 49.] Arbitration Act, 1889, with respect to—
(a)the administration of oaths and the taking of affirmations;
(b)the summoning, attendance, and examination of witnesses and the production of documents;
(c)the correction of mistakes and errors in awards;
shall apply in respect of any proceedings before the arbitration tribunal, but, save as aforesaid, the Arbitration Act, 1889, shall not apply to proceedings before the arbitration tribunal.
(9)The arbitration tribunal shall have power to make interim awards.
(10)The arbitration tribunal may state an award, or any part of an award, in the form of a special case for the decision of the Court of Appeal, and may at any stage of the proceedings, and if so ordered by the Court of Appeal shall, state in the form of a special case for the decision of the Court of Appeal any question of law arising in the course of any proceedings before the tribunal.
(11)The decision of the Court of Appeal upon any award or case so stated shall be final.
(12)The costs of the owner of any undertaking which is in whole or in part transferred to the Board by this Act shall, except and in so far as the arbitration tribunal otherwise determine, be borne by the Board, and the costs of any other person appearing before the tribunal in support of an objection shall be in the discretion of the arbitration tribunal, so however that where the tribunal consider that a claim or objection, as the case may be, is unreasonable or frivolous and vexatious the tribunal may direct the person putting forward the claim or objection to pay the whole or any part of the costs of the Board and the arbitration tribunal may order the taxation of any costs referred to in this subsection in such manner and on such scale or principle as they may think fit.
(13)Subject to the provisions of this section, the arbitration tribunal shall, subject to the approval of the Lord Chancellor, make rules regulating the procedure of the tribunal and providing for the publication of notice of the submission of agreements and schemes and the place where agreements and schemes may be inspected, and prescribing the time within which and the manner in which objections to agreements and schemes may be lodged.
(14)Subject to the provisions of this section, every award or order made by the arbitration tribunal under this Act shall be binding and conclusive for all purposes, and shall have the like effect as if it were an order of the High Court.
(15)The arbitration tribunal shall commence their sittings as soon as may be after the passing of this Act, and shall dispose of the matters referred to them under this Act with all reasonable dispatch.
(1)The arbitration tribunal may appoint a clerk and, subject to the consent of the Treasury as to numbers, such other officers and servants as they consider necessary for assisting them in the proper discharge of their functions.
(2)There shall be paid to the members of the arbitration tribunal and to any person temporarily discharging the duties of a member of the tribunal, and to any such clerk, officers and servants as aforesaid, such remuneration as the Minister, with the approval of the Treasury, may determine.
(3)The expenses of the arbitration tribunal, including any remuneration paid as aforesaid, as certified by the Treasury, shall be defrayed in the first instance by the Minister out of moneys provided by Parliament, but the amount paid by the Minister under this subsection, with interest at such rate as the Treasury may determine, shall on demand be repaid to the Minister by the Board.
(1)The arbitration tribunal in determining the consideration to be paid by the Board for the transfer of—
(a)the Bexley undertaking;
(b)the Ilford undertaking; and
(c)any other undertaking or part of an undertaking not being a local authority's undertaking;
shall have regard to all the circumstances of the case, and shall, subject to the provisions of this section, determine the value of such undertaking or part of an undertaking, and award a consideration which in their opinion is equivalent to such value.
(2)The arbitration tribunal shall endeavour to secure that the standard of consideration payable in respect of the several undertakings and parts of undertakings transferred by this Act (other than local authorities' undertakings which are transferred on the terms set out in subsection (1) or (3) of section nine of this Act) shall be fair and equitable as between the several owners thereof, and in order to secure that result may, amongst the circumstances to which they have regard in determining the value of any of the undertakings mentioned in subsection (1) of this section, have regard to the nature and value and the consideration paid for the transfer of any other undertaking or part of an undertaking (other than as aforesaid) transferred by this Act, whether that consideration is fixed by this Act or by agreement under this Act.
(3)Where the arbitration tribunal are satisfied that in settling the consideration payable in respect of the transfer of any such other undertaking or part of an undertaking to the Board under this Act any factor has been taken into account which is relevant to the case pending before them, they shall, in making their award, take such factor into account, and shall in respect of that factor make their award on a similar basis.
(4)Notwithstanding anything in this Act the parties to any proceedings before the arbitration tribunal shall, subject to any legal objection, submit to be examined by the tribunal on oath or affirmation in relation to the matters in dispute, and shall subject as aforesaid produce before the tribunal all books, deeds, papers, accounts, writings and documents within their possession or power respectively which may be required or called for by the tribunal, and do all other things which during the proceedings the tribunal may require, and this subsection shall apply to the owners of any undertaking or part of an undertaking the consideration for the transfer of which has been fixed by this Act or by agreement under this Act as if they were parties to the proceedings.
(5)The arbitration tribunal in determining the consideration to be paid by the Board for the transfer of a local authority's undertaking (other than an undertaking owned by an authority specified in the Sixth Schedule to this Act or the Bexley or Ilford undertaking) shall proceed on the basis of the provisions of subsection (3) of section nine of this Act.
(6)The arbitration tribunal—
(a)shall in the case of a Tilling undertaking or an independent undertaking, in any case where, after notice has been given in accordance with this Act by the owners of the undertaking claiming that the transfer to the Board of part only of their undertaking would injuriously affect a part of the undertaking not so transferred, the Board have not taken over the whole of the remaining part, take into consideration any damage suffered or to be suffered by the owners by reason of the severance of the part of the undertaking transferred to the Board from the remainder of the undertaking;
(b)shall not, in the case of an undertaking, or part of an undertaking, not being a local authority's undertaking, take into account so much of the value of the undertaking as is attributable to the possibility or probability of the undertaking being amalgamated with or purchased by or being made the subject of an arrangement with some other undertaking working in whole or in part within the London Passenger Transport Area.
(7)The arbitration tribunal shall in no case make any allowance on account of the compulsory nature of the transfer.
(8)The arbitration tribunal in determining any application for the confirmation of an agreement made under subsection (1) of section eight or subsection (1) of section ten of this Act shall have regard to the like considerations as when themselves determining the consideration to be paid and the foregoing provisions of this section shall apply accordingly.
(9)For the purposes of this section the undertakings owned by the following companies, that is to say, the Central London Railway Company, the City and South London Railway Company, the London Electric Railway Company, the London General Omnibus Company, Limited, and the Metropolitan District Railway Company shall be treated as a single undertaking.