Freight integration under the Transport Bill General scheme of Bill

20th September 1968, Page 213

20th September 1968

Page 213

Page 213, 20th September 1968 — Freight integration under the Transport Bill General scheme of Bill

Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

4.1 The general scheme of the Bill, in so far as is relevant for present purposes, is as follows:— 4.2 Thos. Cook and certain relatively small investments will remain with the "mini" Transport Holding Company; no indication is given in the Bill as to when (or indeed if ever) the THC will be wound up. Apart from these interests the THC will split into two parts:— (a) the freight companies; the shares held by THC in these will pass to the National Freight Corporation referred to below (para 4.4); (shipping is referred to in 4.44); (b) the bus companies; the shares in these will pass to the two new Authorities referred to in Section 5; i.e. to the National Bus Company in the case of bus companies in England and Wales; and the Scottish Transport Group in the case of bus companies in Scotland.

4.3 The railways are required to segregate from the rest of their undertaking two important sectors of their business:—

(a) the Sundries traffic business; (b) the Freightliner business.

These (including all road collection and delivery services) are to be put into two new companies to be registered by BR under the Companies Acts in the ordinary way; on Vesting Day the shares will, by operation of the Act, fall as follows:—

(a) BR Sundries Company 100 per cent to NFC;

(b) BR Freightliner Company 51 per cent to NEC,

(also Tartan Arrow) 49 per cent to BR.