ORR meaning in Business ?
Answer: What is Office of Rail Regulation mean?
The Office of Rail and Road (ORR) is a non-ministerial government department responsible for the economic and safety regulation of Britain's railways, and the economic monitoring of National Highways.
ORR regulates Network Rail by setting its activities and funding requirements for each Control Period, ensuring train operators have fair access to the railway network, and enforcing compliance with its network licence. ORR also regulates High Speed 1, the Channel Tunnel, and also acts as the appeal body, controls the network statement and monitors the competitive situation of rail services in Northern Ireland. It is the competition authority for the railways and enforces consumer protection law in relation to the railways.
From April 2015, ORR assumed responsibility for monitoring National Highways' management of the strategic road network – the motorways and main 'A' roads in England – and advising the Secretary of State for Transport on the levels of funding and performance requirements for each Road Period.
reference
Comments(0)
Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.