Prohibition against carrying on specified activities through companies
3. Transport for London shall not carry on any specified activity except through a company limited by shares and registered under the Companies Act 1985(1) which is—
(a)a subsidiary of Transport for London; and
(b)a company which Transport for London formed, or joined with others in forming, by virtue of section 156(1) of the 1999 Act and which does not fall within paragraph (a) of this article.
(1)