Sch 3Public transport assets

Schedule 3—Public transport assets 1 If it is proposed to sell to a private sector body any property of a kind prescribed by clause 4 that, immediately before the commencement of this Act— (a) is held by or on behalf of the Crown; and (b) is used for the purposes of a passenger transport service, then— (c) the Minister must, at least two months before the proposed sale— (i) give notice of the proposal in the Gazette, and in a newspaper circulating generally throughout the State; and (ii) provide a written report on the proposed sale to the Economic and Finance Committee of the Parliament; and (d) if the sale proceeds it will be taken to be subject to the condition that the private sector body grant to the Minister an option to repurchase the property in the event of a proposed sale or other disposal of the property by the private sector body (being an option that prevails over any other option that may exist in relation to the property).