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Transport Act 1985

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This is the original version (as it was originally enacted).

49The Bus Company's powers of disposal

(1)Without prejudice to any powers conferred on them by any other enactment, the Bus Company shall have power to provide for the implementation, in such manner as they think fit, of any disposal required in pursuance of their disposal programme.

(2)The Bus Company shall not exercise their powers under subsection (1) above in relation to any disposal so required except with the consent of the Secretary of State; but that consent may be given either—

(a)generally, in relation to disposals of any specified description ; or

(b)in relation to a particular disposal.

(3)In providing in exercise of their powers under subsection (1) above for the disposal of any shares in or other securities of any subsidiary of theirs, the Bus Company may, with the consent of the Secretary of State, provide for employees' share schemes to be established in respect of that subsidiary; and any such scheme may provide for the transfer of shares without consideration.

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