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Mr John Swift QC, the Rail Regulator, has today published a statement he has sent to Sir George Young, the Secretary of State for Transport, for inclusion in the Railtrack Prospectus.
In his Statement*, Mr Swift sets out the general principles he has adopted in the regulation of the rail industry over the last two years and which he intends to continue to adopt after the privatisation of Railtrack.
He outlines how these principles have guided his decision making thus far and his intended approach following the company's flotation.
* Copies of the Statement are available from ORR Library [[see related documents for full text]]