20. Related Party Transactions

Transport Scotland is an Executive Agency of the Scottish Government. The Scottish Government is regarded as a related party with which it had various material transactions during the year. David MacBrayne Limited, Caledonian Maritime Assets Limited (CMAL) and Highlands & Islands Airports Limited (HIAL) are wholly owned subsidiaries of Transport Scotland with whom it had various material transactions during the year, principally in relation to loans advanced to and repaid from CMAL and grants paid to HIAL. David MacBrayne Limited is also the parent company of CalMac Ferries Limited, Argyll Ferries Limited and Northlink Ferries Limited with whom Transport Scotland also had material transactions, principally in relation to the payment of subsidies for the operation of ferry services. Argyll Ferries Limited was created to bid for the Gourock-Dunoon service, which it won in June 2011. It operates two passenger-only vessels. Transport Scotland also had significant transactions with Local Authorities and British Waterways during the year.

All interests declared by members of the Transport Scotland Board are of a minor nature and have no impact on the awarding of contracts and commissions.