The second was the "Taw Vale Railway Extension and Dock Company". The capital was to be £700,000, to build from Barnstaple to Crediton; in effect the route of the 1845 North Devon Railway that had been postponed by decision of Dalhousie's committee. The difference from the previous scheme was that the London and South Western Railway (LSWR) was heavily supporting the proposed line, seeing the chance to capture a large area of territory. The engineer was Joseph Locke, the engineer of the LSWR. This was evidently a long-term aim, for at this time the LSWR Was still building its Salisbury branch, 90 miles away. The TVER was to take over the Taw Vale Railway works, and to have new capital of £533,000, and it got its authorising Act of Parliament on 7 August 1846. The new Company was usually referred to as "the Taw Vale Extension Railway", (TVER), or simply "the Taw Vale Railway".