Concession agreement for railway infrastructure
Open ↗18.—(1) The Minister may, on behalf of the Government, enter into one concession agreement relating to the construction, maintenance, operation and improvement of the railway infrastructure of a cross‑border railway.
(2) A concession agreement in subsection (1) may authorise the concessionaire to exercise, in place of the LTA, all or any of the LTA’s powers and functions in Division 2 of Part 2.
(3) The Minister may cause the grant to the concessionaire of a concession agreement a lease of any land it appears to the Minister to be expedient to do so for the purpose of or in connection with the exercise by the concessionaire of its functions under that agreement and this Act.
Transfer or termination of concession agreement
Open ↗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.
Restrictions on voluntary winding up, etc.
Open ↗20.—(1) Despite the provisions of any other written law, where a concessionaire is a company and 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 —(a)
the company must not be wound up voluntarily without the consent of the Minister;
(b)
no application for a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 may be made by any person in relation to the company, unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to make the application;
(c)
the company must not appoint an interim judicial manager under section 94(3) of the Insolvency, Restructuring and Dissolution Act 2018, unless the company has served on the Minister 14 days’ notice in writing of the company’s intention to make the appointment;
(d)
no application under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 may be made by any person in relation to the company, unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to make that application; and
(e)
no step may be taken by any person to enforce any security over the company’s property unless that person has served on the Minister 14 days’ notice in writing of the person’s intention to take that step.[40/2018]
(2) The Minister must be a party to —(a)
any proceeding under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of a company which is a concessionaire;
(b)
any proceeding relating to the making of a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire;
(c)
any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire; or
(d)
any proceeding relating to the making of an order under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire.[40/2018]
(3) A court must, when deciding any proceeding mentioned in subsection (2), take into consideration any representation made by the Minister in that proceeding.
