Article 6 Transfer of railway and rights, etc. from Board to Company

The Board and the Company may enter into and carry into effect agreements providing for the transfer to and vesting in the Company of the Board’s railway or any part thereof on such terms and conditions as may be agreed between the Board and the Company.

On the transfer date all such rights, powers, privileges and obligations as are vested in or borne by the Board immediately before that date with respect to any part of the Board’s railway transferred to the Company on that date by virtue of an agreement made pursuant to this article shall be transferred to and vest in the Company and thereafter the Company shall to the exclusion of the Board be entitled to the benefit of, and to exercise, all such rights, powers and privileges and be subject to all such obligations, whether statutory or otherwise, then in force to the intent that the Board shall be released from all such obligations.