The Passenger Transport Executives (Capital Finance) (Amendment) Order 1997

Link to law: http://www.legislation.gov.uk/uksi/1997/253/made/data.htm?wrap=true
Published: 1997-02-06

Statutory Instruments
1997 No. 253

LOCAL GOVERNMENT, ENGLAND AND WALES
The Passenger Transport Executives (Capital Finance) (Amendment) Order 1997

Made
6th February 1997

Laid before Parliament
13th February 1997

Coming into force
6th March 1997

The Secretary of State for Transport, in exercise of the powers conferred by section 39(5), (6) and (7) of the Local Government and Housing Act 1989(1) and of all other powers enabling him in that behalf, hereby makes the following Order:

1.  This Order may be cited as the Passenger Transport Executives (Capital Finance) (Amendment) Order 1997 and shall come into force on 6th March 1997.

2.  The Passenger Transport Executives (Capital Finance) Order 1990(2) shall be amended as follows:

(a)In paragraph (1) of article 2 after “(a)” there shall be inserted “(subject to paragraph (2A) below)”;

(b)After paragraph (2) of article 2 there shall be inserted the following—

“(2A) Any sum which is received by the South Yorkshire Passenger Transport Executive in respect of the disposal of South Yorkshire Light Rail Limited or South Yorkshire Supertram Limited to which paragraph (1)(a) above applies shall be treated for the purposes of paragraph (1) above as reduced by so much of the sum as is applied by the South Yorkshire Passenger Transport Executive in defraying that Executive’s costs of and incidental to the disposal of either or both of those Companies”.

Signed by authority of the Secretary of State for Transport

John Watts
Minister of State,
Department of Transport
6th February 1997

Explanatory Note

(This note is not part of the Order)
This Order amends the Passenger Transport Executives (Capital Finance) Order 1990 to provide for the deduction from the proceeds arising from the disposal of South Yorkshire Light Rail Limited (formerly named South Yorkshire Supertram Limited) and South Yorkshire Supertram Limited (formerly named South Yorkshire Supertram (No. 2) Limited) of the expenses incurred by the South Yorkshire Passenger Transport Executive in connection with the disposal, before treatment of the balance of such proceeds as if received by the South Yorkshire Passenger Transport Authority under the Local Government and Housing Act 1989.


(1)
1989 c. 42.

(2)
S.I. 1990/720, to which there are amendments not relevant to this Order.
Read Entire Law on www.legislation.gov.uk