Regulation
The legislation created a new regulatory regime for the railways, with the establishment of the Rail Regulator (dealing with the monopoly and dominant elements of the industry, principally Railtrack (now Network Rail)) and the Director of Passenger Rail Franchising, whose role was to sell passenger rail franchises to the private sector. The Director of Passenger Rail Franchising was replaced in 2001 by the Strategic Rail Authority. When the SRA was abolished in 2006 franchising were taken over by the Secretary of State for Transport. The statutory position of Rail Regulator was abolished in July 2004 and his functions were taken over by the Office of Rail Regulation.
Read more about this topic: Railways Act 1993
Famous quotes containing the word regulation:
“Lots of white people think black people are stupid. They are stupid themselves for thinking so, but regulation will not make them smarter.”
—Stephen Carter (b. 1954)
“Nothing can be more real, or concern us more, than our own sentiments of pleasure and uneasiness; and if these be favourable to virtue and unfavourable to vice, no more can be requisite to the regulation of our conduct and behavior.”
—David Hume (1711–1776)
“Nothing changes my twenty-six years in the military. I continue to love it and everything it stands for and everything I was able to accomplish in it. To put up a wall against the military because of one regulation would be doing the same thing that the regulation does in terms of negating people.”
—Margarethe Cammermeyer (b. 1942)