Article 28 Power to lease or charge tramway system
The undertaker may, with the consent of the Secretary of State–
grant to another person (“the lessee”) for a period agreed between the undertaker and the lessee the right to operate the authorised tramway (or any part of it) and such related statutory rights as may be so agreed; or
grant to another person (“the chargee”) a charge on the right to operate the authorised tramway (or any part of it) and such related statutory rights as may be agreed between the undertaker and the chargee.
The terms of any agreement made by virtue of paragraph (1) above shall be subject to the approval of the Secretary of State.
Where an agreement is made by virtue of paragraph (1) above references in this Order to the undertaker shall, if and to the extent that the agreement so provides, have effect as references to the lessee or, as the case may be, chargee.