§ The Secretary of State for Transport (Mr. Alistair Darling)
In my written statement of 4 June I said that I intended to transfer London Underground to Transport for London on or about 15 July, subject to the passage of the Railways and Transport Safety Bill which was then before Parliament. The Railways and Transport Safety Bill received Royal Assent on 10 July.
I have accordingly approved, with amendments, the transfer scheme for the transfer of London Underground Limited from London Regional Transport to Transport for London that London Regional Transport sealed and submitted to me on 4 June. The London Underground will transfer to Transport for London on 15 July 2003.
This transfer will give effect to the wish of Parliament originally set out in the Greater London Authority Act 1999. It will transfer all of London Regional Transport's remaining property, rights and liabilities to Transport for London. I intend to wind up London Regional Transport shortly afterwards.