§ 19 — Transfer or termination of concession agreement

19.—(1) A concession agreement, and any right, benefit or privilege of a concessionaire under a concession agreement, may be transferred or assigned to another person only if —(a)

the concession agreement contains a condition authorising the transfer or assignment; and

(b)

the Minister consents in writing to the transfer or assignment.

(2) Any consent under subsection (1) may be given subject to compliance with such conditions as the Minister thinks fit to impose, which may include modifying, or requiring or otherwise providing for the making of modifications to, the terms of the concession agreement.

(3) A transfer or an assignment, or a purported transfer or assignment, of a concession agreement, or of any right, benefit or privilege of a concessionaire under the concession agreement, is void and of no effect —(a)

if the concession agreement, or right, benefit or privilege under the concession agreement, is not capable of transfer or assignment;

(b)

if the transfer or assignment, or purported transfer or assignment, is in breach of a condition of the concession agreement; or

(c)

if there has been, before the transfer or assignment or purported transfer or assignment, a contravention of a condition subject to compliance with which the consent required by subsection (1) is given.

(4) If financial assistance has been provided under section 17 to the concessionaire for the purpose of constructing, maintaining, operating and improving the railway infrastructure of a cross‑border railway, then upon the termination of the concession agreement by the effluxion of time or otherwise, there is transferred to a prescribed transferee by virtue of this section, without the need for any further conveyance, transfer, assignment or assurance, all such property, rights and liabilities of the concessionaire as in accordance with the concession agreement that fall to be so transferred in the circumstances.

(5) In subsection (4), “prescribed transferee” means the LTA or a nominee of the LTA.

—(1) A concession agreement, and any right, benefit or privilege of a concessionaire under a concession agreement, may be transferred or assigned to another person only if —(a)

the concession agreement contains a condition authorising the transfer or assignment; and

(b)

the Minister consents in writing to the transfer or assignment.

(2) Any consent under subsection (1) may be given subject to compliance with such conditions as the Minister thinks fit to impose, which may include modifying, or requiring or otherwise providing for the making of modifications to, the terms of the concession agreement.

(3) A transfer or an assignment, or a purported transfer or assignment, of a concession agreement, or of any right, benefit or privilege of a concessionaire under the concession agreement, is void and of no effect —(a)

if the concession agreement, or right, benefit or privilege under the concession agreement, is not capable of transfer or assignment;

(b)

if the transfer or assignment, or purported transfer or assignment, is in breach of a condition of the concession agreement; or

(c)

if there has been, before the transfer or assignment or purported transfer or assignment, a contravention of a condition subject to compliance with which the consent required by subsection (1) is given.

(4) If financial assistance has been provided under section 17 to the concessionaire for the purpose of constructing, maintaining, operating and improving the railway infrastructure of a cross‑border railway, then upon the termination of the concession agreement by the effluxion of time or otherwise, there is transferred to a prescribed transferee by virtue of this section, without the need for any further conveyance, transfer, assignment or assurance, all such property, rights and liabilities of the concessionaire as in accordance with the concession agreement that fall to be so transferred in the circumstances.

(5) In subsection (4), “prescribed transferee” means the LTA or a nominee of the LTA.