Article 15 Powers of disposal, agreements for operation, etc.
LLAL may enter into agreements—
to transfer, charge or otherwise dispose of any interest of LLAL in the passenger transit system to another person (“the transferee”); or
to grant to another person (“the lessee”) for a period agreed between LLAL and the lessee any interest of LLAL in the passenger transit system; and
that are connected with or consequential on any agreement entered into under sub-paragraph (a) or (b).
Any agreement referred to in paragraph (1) may, with the consent of the Secretary of State, provide for the transferee, the lessee or another person to exercise or be responsible for any relevant functions, either exclusively or concurrently with LLAL or another person.
Where an agreement has been made under paragraph (1) for the transferee, the lessee or another person to exercise or be responsible for any relevant functions, references in this Order to LLAL include references to the transferee, the lessee or that other person.
The exercise of any relevant functions by any person under any agreement made under paragraph (1) is subject to the same restrictions, liabilities and obligations as would apply under this Order if those functions were exercised by LLAL.
LLAL may provide to any person in any agreement made under paragraph (1), or in connection with or in consequence of any such agreement, such guarantees, indemnities or other forms of security as it considers to be necessary or appropriate.
In this article “relevant functions” means any provision of this Order and of any enactment applied to the passenger transit system by this Order.
The Secretary of State’s consent given under paragraph (2) may be subject to such reasonable terms and conditions as the Secretary of State considers appropriate in the circumstances.