The nationalisation package also included the fleets of 'private owner wagons', which industrial concerns had used to transport goods on the railway networks.
The BTC was one of the largest industrial organisations in the world and it owned a vast number of transport-related assets.
The Commission took direct charge of the remaining assets, though these were significantly reduced by the Conservatives de-nationalising much of the road haulage sector.
On 1 January 1955, separate managements were also set up for road haulage, hotels, docks and inland waterways.
It was abolished by Harold Macmillan's Conservative government under the Transport Act 1962 and replaced by five successor bodies:[12] These changes took effect on 1 January 1963.