§ 56. Mr. Ernest Davies
asked the Minister of Transport if, in accordance with the power conferred upon him by Section 11 of the Transport Act, 1953, he will make regulations requiring that where an application is made by the purchaser of a transport unit or of shares of a company under the control of the Commission for an A special licence the names of any persons or companies with whom the applicant proposes to enter into a hire purchase agreement in regard to the unit or shares shall be disclosed.
§ Mr. Lennox-Boyd
No; in the case of transactions of this kind the finance company concerned becomes the legal purchaser and owner of the property which is the subject of the hire purchase agreement. This means that under the Transport Act, 1953, the finance company will be the person entitled to a special A licence for any vehicles concerned but subject to disclosure of the agreement to the licensing authority this right will pass to the other party to the agreement as soon as he assumes possession of the vehicles. The part played by the finance company will thus be known to the Commission, the Disposal Board and the licensing authority.
§ 57. Mr. Callaghan
asked the Minister of Transport if he has yet given his 88W approval under Section 3 (3) of the Transport Act, 1953, to the proposal of Transport Unit Finance to purchase vehicles from the British Transport Commission and resell them on hire purchase agreements.
§ Mr. Lennox-Boyd
Section 3 (3) of the Act, to which the hon. Member refers, deals with the make-up of transport units and not with their purchase by any particular person. I am not concerned in the acceptance or refusal of particular tenders unless any difference arises between the Commission and the Board, or unless a tender is refused wholly or mainly on the ground that it is likely to lead to the elimination or undue restriction of competition in road haulage.