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28Key system assets

(1)    Section 216(1)(b) of the Greater London Authority Act 1999 (c 29) (consent of Transport for London required for creation etc of interests in, or rights over, assets designated as key system assets in connection with certain railway-related public-private partnership agreements) shall not apply in relation to—

(a)    the creation of an interest in, or right over, a key system asset, or

(b)    an agreement to create an interest in, or right over, a key system asset,

if the interest or right is, or is to be, created in order to facilitate any of the matters mentioned in subsection (2).

(2)    Those matters are—

(a)    the construction of the railway mentioned in section 1(1)(a);

(b)    the maintenance of that railway;

(c)    the operation of services for the carriage of passengers or goods by railway on a line the whole of which, or part of which, forms part of that railway.

(3)    In this section “key system asset” has the meaning given by section 213(1) of the Greater London Authority Act 1999 (c 29).

NOTES
Initial Commencement
Royal Assent

Royal Assent: 22 July 2008: (no specific commencement provision).
Franchising99 Commercial Law99

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