Article 4 Transfer of rights and obligations to undertaker, etc.
(1)
Except as may be otherwise provided in this Order, from the relevant date—
(a)
the railway or any part of it continues to be subject to all statutory and other provisions applicable to the railway at that date; and
(b)
the undertaker is—
(i)
to the exclusion of Weardale Realisations, entitled to the benefit of, and to exercise, all rights, powers and privileges relating to the railway or any part of it; and
(ii)
subject to all obligations, statutory or otherwise, relating to the railway or any part of it, with the intent that Weardale Realisations is to be released from all such obligations.
(2)
Paragraph (1)(b) is subject to article 9 (provisions as to bridges).