Public Transport Corporation
The Public Transport Corporation (PTC) was a Government of Victoria owned statutory authority formed under the Transport Act 1983 which operated passenger and freight trains, trams and bus services. The PTC was also responsible for directly operating some bus services and procuring bus services from private operators. It was established on 1 July 1989 as a result of the passage and commencement of the Transport (Amendment) Act 1989 to manage the responsibilities of the State Transport Authority and the Metropolitan Transit Authority. In suburban Melbourne it continued to be referred to by the MTA's nickname of  The Met, while in regional Victoria it operated as V/Line. The operational rail and tram activities of the PTC were franchised in 1999 by the Kennett Government through the intermediary of a new agency, the Director of Public Transport, a statutory office within the Department of Transport. The director was required to enter into franchise agreements with private rail and tram companies for the on-the-ground delivery of public transport services. The land and infrastructure assets of the Public Transport Corporation were transferred to another new agency, VicTrack, who then leased those assets to the Director of Public  Transport, which in turn sub-leased the assets to the private operators. Formation. The Public Transport Corporation was initially established under changes made to the Transport Act 1983 by the Transport (Amendment) Act 1989. The statutory changes abolished the former State Transport Authority and Metropolitan Transit Authority thereby creating the Public Transport Corporation in its place. The functions of the PTC were an amalgamation of those of its two predecessors. The green and gold livery on vehicles was retained, though with a new double arrow logo. The PTC was subject to the control and general direction of the former Director -General of Transport initially and then later to the Secretary to the Department of Transport and, ultimately, the Minister for Transport. A 14-member Public Transport Corporation Board was appointed by the Minister to provide advice to the Chief Executive of the PTC. Demise. Franchising of the PTC commenced under the Kennett Government of the 1990s. Privatisation began with some of the bus operations in December 1993. V/Line was split into Passenger and Freight divisions, with the latter sold outright. "The Met" was divided into Bayside Trains, Hillside Trains, Swanston Trams and Yarra Trams from October 1997 and these  along with V/Line's passenger operations passed to the private sector in August 1999. These separate bodies were all franchised separately as follows: The remaining functions of the corporation were transferred to Metlink, later Public Transport Victoria.