Transport Act 1947
The Transport Act 1947 was in 1947 by the British government under Clement Attlee enacted law on nationalization of the railways .
The four major railroad companies
- London, Midland and Scottish Railway (LMS)
- Great Western Railway (GWR)
- London and North Eastern Railway (LNER)
- Southern Railway (SR)
as well as numerous smaller transport companies were nationalized and combined in the British Transport Commission (BTC). The shareholders of the railway companies were compensated with compensation payments, which were, however, based on the low value of the railway companies, which were in a battered condition after the war.
15 years later, the British Transport Commission was dissolved with the Transport Act 1962 under the Conservative Prime Minister Harold Macmillan and the British Railways Board was founded on January 1, 1963 .
Web links
Overall: Transport Act 2000
Bus Transport : Transport Act 1980 | Transport Act 1985
Rail transport: Railways Act 1921 | Transport Act 1947 | Transport Act 1962 | Transport Act 1993