VPRS 12974 V/Line Freight Sale Records

The corporitisation of V/Line Freight was announced in the Government's 1996-transport policy. The V/Line Freight formed as an autonomous business unit was separated from the Public Transport Corporation (PTC) in 1997 as a statutory corporation in its own right. On 1 March 1997 VLF was constituted as a statutory corporation, commencing operations on the 1 July 1997.This series documented the sale of V/Line Freight, including Sales Committee Minutes, various sales papers, correspondence and reports of assets, infrastructure, locos and rolling stock. Pursuant to the allocation mechanism contained in the Rail Corporations Act 1996, on 1 July 1997, assets (excluding debtors) and liabilities (excluding creditors) together with appropriate staff necessary for the operation of the rail freight business were transferred from the PTC to VLF.