{
  "url": "https://openlegislation.uk/railway-licensing-of-railway-undertakings-regulations-2005/schedule-2/paragraph-6",
  "json_url": "https://openlegislation.uk/railway-licensing-of-railway-undertakings-regulations-2005/schedule-2/paragraph-6.json",
  "legislation": "uksi/2005/3050",
  "legislation_title": "The Railway (Licensing of Railway Undertakings) Regulations 2005",
  "legislation_url": "https://openlegislation.uk/railway-licensing-of-railway-undertakings-regulations-2005",
  "path": "schedule/2/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": "Financial fitness",
  "text": "Subject to paragraph 8 an applicant for a railway 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.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/3050/schedule/2/paragraph/6",
    "retrieved_at": "2026-10-29T04:47:38.112220+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}