Article 2 Interpretation

In this Order, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them:–

• “the Board” means the British Railways Board;

• “the Company” means Vale of Rheidol Railway Limited incorporated under the Companies Act 1985^f1 and having its registered office at Euston House, 24 Eversholt Street, London NW1 1D2;

• “Railway No. 1” and “Railway No. 2” mean respectively the railways more particularly described in the Schedule to this Order;

• “the railways” means Railway No. 1 and Railway No. 2;

• “the Scheme” means a scheme made under Part I of the Transport Act 1981^f2 transferring the property, rights and liabilities of the Board in the railways to the Company;

• “the specified enactment” means section 25 (Restrictions on weight on rails and speed) of the Vale of Rheidol Light Railway (Aberayron Extension) Order 1898; and

• “the transfer date” means the day on which the railways are vested in the Company by virtue of the Scheme.