Paragraph 6 Financial fitness
Subject to paragraph 8 an applicant for a F1railway undertaking licence shall be considered to meet the required standard of financial fitness when it can demonstrate that it will be able to meet its actual and potential obligations, established under realistic assumptions, for a period of twelve months.
Annotations
Textual amendments
- F1
Words in Sch. 2 para. 6 substituted (31.12.2020) by The Railway (Licensing of Railway Undertakings) (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/700), regs. 1(2), 18(b) (with regs. 32-39); 2020 c. 1, Sch. 5 para. 1(1)
Notes on Schedule 2
Textual amendments
- F1
Words in Sch. 2 heading substituted (31.12.2020) by The Railway (Licensing of Railway Undertakings) (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/700), regs. 1(2), 18(a) (with regs. 32-39); 2020 c. 1, Sch. 5 para. 1(1)