# The Lydney and Parkend Light Railway (Extension and Amendment) Order 1994, Article 4: Transfer of Railway No. 4 to the Company


(1) The Board and the Company may enter into and carry into effect agreements providing for the transfer to and vesting in the Company of Railway No. 4 or any part of it on such terms and conditions as may be agreed between the Board and the Company.
(2) As from the transfer date the Company shall to the exclusion of the Board be entitled to the benefit of and to exercise all rights, powers and privileges and be subject to all obligations of the Board whether statutory or otherwise for the time being in force in respect of Railway No. 4 or such part of it as is transferred as aforesaid.
(3) Subject to the provisions of this Order, as from the transfer date the Company may work Railway No. 4 as a light railway under the principal Act.

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Source: https://www.legislation.gov.uk/uksi/1994/1331/article/4 (the official version)
Page: https://openlegislation.uk/lydney-and-parkend-light-railway-extension-and-amendment-order-1994/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.