# The Manchester, Liverpool Road (Castlefield Properties Limited) Light Railway Order 1993, Article 4: Leasing and sale of Board’s railways to Company


(1) During the continuance of the lease, or after the operative date of any transfer under paragraph (2) of this article, 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 statutory or otherwise (insofar as the same are still subsisting and capable of taking effect) as are for the time being in force in respect of the Board’s railways or such part thereof as is comprised in the lease or is so transferred, as the case may be, to the intent that the Board should be released from all such obligations.
(2) 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 freehold reversion in the Board’s railways or any part thereof.

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Source: https://www.legislation.gov.uk/uksi/1993/2153/article/4 (the official version)
Page: https://openlegislation.uk/manchester-liverpool-road-castlefield-properties-limited-light-railway-order-1993/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.