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The BRB was created under the Transport Act, 1962 by Harold Macmillan's Conservative government to inherit the railway responsibilities of the British Transport Commission, which was dissolved at this time. It had overall control of the British Railways, later British Rail from 1 January 1963 until the privatisation introduced by John Major's Conservative government under the Railway Act, 1993. It has survived as a residuary body, BRB (Residuary) Ltd , a wholly-owned subsidiary of the Strategic Rail Authority (SRA). Through its subsidiary, Rail Property Ltd, it retains responsibility for "non-operational railway land" (for example, railway lines closed in the Beeching Axe which have never been built on).
The British Railways Board also owned a large amount of railway archive material such as films and photographs, dating back before nationalisation. At privatisation in the 1990s these were distributed to various other bodies; the films went to the British Film Institute in LondonLondon is the capital of the United Kingdom and of England, and with over seven million inhabitants in the Greater London area, is the second-most populous conurbation in Europe (after Moscow). From being Londinium the capital of the Roman province of Bri, while the photographs went to the National Railway MuseumLNER A4 class 4468 Mallard The National Railway Museum (NRM) in York forms part of the British National Museum of Science and Industry. It contains a collection of over 100 locomotives and nearly 200 other items of rolling stock, together with many hundre (NRM) in YorkThis article is about the English city. For other meanings, see York (disambiguation). York is a city in the north of England built at the confluence of the Rivers Ouse and Foss. In 1991 the city had a population of 123,126. Its geographic coordinates are.