Explanatory note

This Order transfers to the National Freight Corporation on the 30th March 1973 all outstanding property, rights and liabilities of the Transport Holding Company and dissolves that Company on the 31st March 1973.

In Article 2 (Transfer of property etc.), provision is also made for conferring on the National Freight Corporation such additional powers as they need in order that the transferred property can be dealt with and the transferred liabilities discharged by them, and for enabling grants to be made to them so that they can discharge the transferred liabilities.

Article 3 (Dissolution of the Transport Holding Company) also provides for certain amendments to section 2 of the Transport Holding Company Act 1972 and for repeals.

Article 4 provides for the preparation and submission by the National Freight Corporation of the final accounts and report of the Transport Holding Company.