This consultation ran from 15 May 2012 12:00am to
25 June 2012 11:45pm
This consultation concerns the proposed abolition of BRB (Residuary) Ltd.
Unlike many of the bodies scheduled for abolition under the Public Bodies Act 2011 (“the Act”), it has always been the intention to wind-up BRB (Residuary) Ltd (BRBR) at the appropriate time. That time is now at hand and the act provides the most efficient means by which to achieve the winding-up of BRBR.
Since BRBR (Company No: 04146505) was established in 2001, the company has pursued with vigour its remit of extracting value from the disparate portfolio of assets and liabilities inherited from the British Railways Board. By the date of abolition BRBR will have disposed of more than 90% of its inherited property assets and in doing so will have generated over £400m by way of sales proceeds. Over this period of time BRBR has also expedited and reduced the cost of handling industrial injury and disease claims from former employees, and acted in support of various government policy initiatives. This has included developing former railway offices in order to provide accommodation for civil servants.
However, it is no longer viable given the reduced scale of BRBR’s activities to maintain BRBR as a separate corporate entity. It is therefore proposed that BRBR be abolished and its functions, properties, rights and liabilities transferred to a combination of the Secretary of State for Transport (the Secretary of State), London & Continental Railways (LCR), Network Rail (NR) and Rail Safety and Standards Board (RSSB).
The Act includes a requirement in Section 10 for consultation in respect of all proposals which require an Order to be made under Sections 1 to 5 of the Act. As the impact of the proposed reform is neutral the Department for Transport (DfT) is undertaking a targeted 6 week informal consultation. This meets the consultation requirements for a body with specialised functions and a limited user group. This consultation is therefore seeking views on the proposed abolition of BRBR and on the transfer of its functions, property, rights and liabilities to the Secretary of State, LCR, NR, and RSSB.
The period for consultation over the proposed abolition of BRB (Residuary) Limited, which commenced on 15 May, was extended by 2 weeks to 9 July for a small number of respondents who asked for additional time to comment on the proposals. The department is required to publish its response within 6 weeks of the close of consultation which, as a result of this extension, will now be by 21 August.