Responding on May 21 to the PPP Arbiter's direction to modify its affordability constraints or cut back the work programme for the seven and a half years of Review Period 2, London Underground said that the Periodic Review process had been rendered 'academic' by TfL's decision to acquire Tube Lines for ￡310m (RB1366 p1).rnUnder the latest timetable for the Periodic Review, Tube Lines was due to respond to LU's restated terms by June 11, 'although it is for Tube Lines and London Underground to agree this date in the first place', according to PPP Arbiter Chris Bolt. When issuing his direction to LU last month (RB1365 p1), the Arbiter proposed to issue his final directions on charging and financing by June 30, the day before RP2 starts.
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