
1 
This Order may be cited as the Passenger Transport Executives (Capital Finance) (Amendment) Order 1995 and shall come into force on 30th June 1995.
2 
The Passenger Transport Executives (Capital Finance) Order 1990 shall be amended as follows—
(a) In paragraph (2) of article 1—
(i) after the definition of “current assets”, there shall be inserted the following—“
 “Deed of Assumption” means a deed made by way of deed poll pursuant to which the maker of the deed undertakes certain payment obligations in relation to capital grant provided by an Executive;”, and
(ii) after the definition of “relevant date”, there shall be inserted the following—“
 “relevant sum” means a sum paid by Railtrack plc to an Executive in pursuance of a Deed of Assumption made by the British Railways Board on 30th March 1994 the liabilities under which were transferred to Railtrack plc by scheme made by the Board on 30th March 1994 pursuant to section 85(1) of the Railways Act 1993;
 “special sum” means a sum paid by the British Railways Board to an Executive in pursuance of a Deed of Assumption made by the Board on or before 31st May 1995 or a sum paid by Railtrack plc to an Executive in pursuance of any Deed of Assumption made by Railtrack plc on or before 31st July 1995;”;
(b) In paragraph (1)(a) of article 2, after the word “sum” there shall be inserted the words “, other than a special sum,”;
(c) In paragraph (2)(b) of article 5, after the words “Executive except” there shall be inserted the words “a relevant sum, a special sum and”.
Signed by authority of the Secretary of State for Transport
John Watts
Minister of State,
Department of Transport
6th June 1995