THE TRANSPORT BILL received the Royal Assent on Monday evening and is now the 1980 Transport Act.
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Its most immediate effect was the birth, on July 1, of the National Freight Company Ltd, the Companies Act enterprise which, ultimately, will acquire the assets and staff of the National Freight Corporation.
The new company, which has been formed with £1000 nominal capital, represents the chrysalis stage for NFC. Assets and staff will be transferred at a later stage, and shares will be sold on the stock exchange at a time considered suitable by the Transport Minister.