# The Railways (Access, Management and Licensing of Railway Undertakings) Regulations 2016, Paragraph 3


(1) Subject to sub-paragraph (2), for specific investment projects completed—
(a) since 1988; or
(b) following the coming into force of these Regulations,
the infrastructure manager may set or continue to set higher charges on the basis of the long-term costs of the project.
(2) For sub-paragraph (1) to apply—
(a) the project must increase efficiency or cost-effectiveness; and
(b) the project must be one that could not otherwise have been undertaken without the prospect of such higher charges.
(3) A charging arrangement to which sub-paragraph (1) applies may incorporate agreements on the sharing of the risk associated with new investments.

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Source: https://www.legislation.gov.uk/uksi/2016/645/schedule/3/paragraph/3 (the official version)
Page: https://openlegislation.uk/railways-access-management-and-licensing-of-railway-undertakings-regulations-2016/schedule-3/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.