Regulation 8 Passenger Transport Executives

After regulation 7, insert—

“Passenger Transport Executives

7A

(1)

A statement of accounts of a Passenger Transport Executive shall be prepared so as to be no less informative than if the disclosure requirements of the Companies Act 1985 were, so far as appropriate, applicable to Executives.

(2)

For each year ending on or after 31st March 2006, a Passenger Transport Executive shall charge to a revenue account an amount equal to the retirement benefits payments and contributions to pension funds which are payable for that year in accordance with—

(a)

the Local Government Pension Scheme Regulations 1997; and

(b)

the Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2000.”.