§ Mr. FisherTo ask the Secretary of State for Transport what statutory powers presently given to Railtrack and railway operators he intends to pass on to the private companies who purchase these shadow companies.
§ Mr. WattsOur general policy is that all statutory powers transferred to Railtrack and railway operators from British Rail under the provisions of the Railways Act 1993, together with the statutory powers conferred by that Act, should be passed on when Rai1track and other railway operators move into the private sector. This will be reviewed in each case prior to disposal.
§ Mr. FisherTo ask the Secretary of State for Transport what is the current legal status of Railtrack and the railway operating companies.
§ Mr. WattsRai1track is a company limited by shares, incorporated under the Companies Act 1985; all the shares are owned by the Government. Six passenger train operating companies have been formed. One of these— Gatwick Express Ltd.—is a wholly owned subsidiary of the board and is operating as a separate entity. The other five have not yet had the relevant parts of the board's undertaking transferred to them.
799WIn addition, five freight and parcel companies have been formed, but the relevant parts of the board's undertaking have not yet been vested in them.