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ORR publishes its provisional timetable for a market study into passenger rolling stock leasing markets

07 July 2006
ORR/19/06

ORR today announced that it will launch a focused market study into the passenger rolling stock leasing markets. ORR has set out its provisional timetable and expects to publish its findings later this year.

ORR’s decision to launch a market study follows the receipt of a formal request from the Department of Transport on 28 June 2006 asking ORR to refer the passenger rolling stock leasing markets to the Competition Commission for a detailed market investigation.

ORR’s timetable is designed to come to an early view as to whether it has reasonable grounds to refer the markets to the Competition Commission, whether the markets have a clean bill of health or ORR needs to take more time to come to a view.

ORR intends to consult widely and will engage with the Rolling Stock leasing companies and their main customers – the train operating companies, and other interested parties.

Notes for editors

  1. ORR’s provisional timetable, the scope of the market study and a request for interested parties to register their interest with ORR is available on the ORR website at http://www.rail-reg.gov.uk/upload/pdf/295.pdf.
  2. The Office of Rail Regulation (ORR) was established on 5 July 2004 under the Railways and Transport Safety Act 2003. ORR is an independent statutory body led by a Board.
  3. The ORR has concurrent power with the OFT to make a reference to the Competition Commission under Part 4 of the Enterprise Act 2002.
  4. ORR may decide at the end of its market study that it needs to consider the issues for longer and may, in accordance with its own guidelines, undertake a full market review lasting between six and twelve months.
  5. Further information on ORR’s procedures for reviewing markets can be found in ORR’s approach to reviewing markets which can be found on the ORR website at http://www.rail-reg.gov.uk/upload/pdf/282.pdf.
  6. Rolling stock provision is not a service regulated under the Railways Act 1993 (as amended). As such ORR has no role in the day-to-day economic regulation of such companies.
  7. From 1st April 2006 ORR additionally became the independent health and safety regulator for the railway industry, including rolling stock operations.

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