The Railways Act 1993 (c. 43) was introduced by John Major's Conservative government and passed on 5 November 1993.

Railways in the 18th and 19th centuries had originally been built and run with private capital, but subsidised heavily by Parliament and communities who gave land for building through compulsory purchase.

Calls for reform of the nationalised system combined with people who believed only the private sector could run rail to ensure better service for passengers at less cost.

The legislation enabled the Secretary of State for Transport John MacGregor to transfer separated parts of the railway to the private sector.

British Rail's track maintenance and renewal operations were sold to private companies, with contracts to provide infrastructure services to Railtrack.