Greater London Authority Bill - continued        House of Lords
PART IV, TRANSPORT - continued

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Miscellaneous
Annual report.     139. - (1) Transport for London shall, as soon as possible after the end of each financial year, make to the Authority a report on the exercise and performance by Transport for London of its functions during the year.
 
      (2) The report shall deal with-
 
 
    (a) the contribution made by Transport for London towards the implementation of the transport strategy, and
 
    (b) the activities of any subsidiaries of Transport for London, so far as relevant to the performance of the functions of Transport for London during the year in question.
      (3) The report made under this section in respect of any financial year shall include such information as the Mayor may from time to time specify in writing with respect to any matter the report is required to deal with by virtue of subsection (1) or (2) above.
 
Distribution of property.     140. - (1) The Mayor may where he considers it appropriate make schemes for the transfer-
 
 
    (a) between the Authority and Transport for London or any subsidiary of Transport for London,
 
    (b) between Transport for London and any subsidiary of Transport for London, or
 
    (c) between any subsidiary of Transport for London and any other such subsidiary,
  of any property, rights and liabilities.
 
      (2) The Mayor shall not without the consent of the Secretary of State make a scheme providing for the disposal of an interest in land where the disposal would, if it were a disposal by Transport for London, require the consent of the Secretary of State under section 141 below.
 
      (3) Consent given under subsection (2) above shall be given in an order made by the Secretary of State.
 
      (4) Any question whether consent is required under subsection (2) above shall be determined by the Secretary of State.
 
Restrictions on the disposal of land.     141. - (1) Transport for London shall not by virtue of any provision of this Act-
 
 
    (a) dispose of the freehold interest in operational land, or
 
    (b) grant a leasehold interest in such land for a term of more than fifty years,
  without the consent of the Secretary of State.
 
      (2) In subsection (1) above-
 
 
    "operational land" means land owned or acquired for the purpose of a railway or tramway, and
 
    "railway" and "tramway" have the meaning given to them by section 67 of the Transport and Works Act 1992.
      (3) Consent is required under this section for the disposal or grant of any interest in operational land notwithstanding that the land in question is no longer used for the purpose of a railway or tramway.
 
      (4) Consent given under this section shall be given in an order made by the Secretary of State.
 
      (5) Any question whether land is operational land within the meaning of this section shall be determined by the Secretary of State.
 
Control of subsidiaries.     142. The powers of the Authority and the powers of Transport for London shall be exercised so as to ensure that a subsidiary of Transport for London-
 
 
    (a) does not do anything which Transport for London has no power to do (including anything which Transport for London has no power to do because the consent of the Secretary of State has not been obtained),
 
    (b) does not do anything which the Mayor has directed Transport for London not to do, and
 
    (c) does not, except with the consent of the Secretary of State, raise money by the issue of shares or stock to any person other than Transport for London or any other subsidiary of Transport for London.
 
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