Article 4 Transfer of railways, etc. by Railtrack PLC.

(1)

Railtrack may transfer to the Nottingham Company or, with the consent of the Secretary of State, to any associated company (as defined in section 416 of the Income and Corporation Taxes Act 1988^f1) of the Nottingham Company—

(a)

Railway No.1 and Railway No.2, or any part of those railways; and

(b)

so much of the land required for Railway No.3 as at the date of the coming into force of this Order is owned by Railtrack

on such terms and conditions as may be agreed between Railtrack and the Nottingham Company or its associated company, as the case may be.

(2)

As from the date of any agreement made under paragraph (1) above in relation to any part of the railways, sections 116, 117 and 118 of the Transport Act 1968^f2 shall apply to that part as if references to the Board in those sections were references to the undertaker.

Annotations

Footnotes

f1: 1988 c. 1.
f2: 1968 c. 73, as amended by the Local Government Act 1972 c. 70, the London Regional Transport Act 1984 c. 32, the New Roads and Street Works Act 1991 c. 22, and the Railways Act 1993 (Consequential Modifications) (No. 5) Order 1996 S.I. 1996/420.