s 22 Contents of railway assets contract
22.—(1) A railway assets contract for a cross‑border railway must relate to all railway assets in Singapore of that cross‑border railway. (2) A railway assets contract relating to the railway assets of a cross‑border railway —(a) must specify the term of the contract; (b) must be subject to a condition precedent that requires the railway assets operator under the contract to obtain a railway assets operating licence before providing open network services involving those railway assets; and (c) must not provide for an option to renew the contract exercisable by the railway assets operator. (3) A railway assets contract may make provision in relation to the management of the railway assets and the provision of network services under the contract, and the administration of the contract, including —(a) the fees (if any) payable under the contract; (b) monetary or other penalties —(i) for a breach of the contract; (ii) for a failure (being not a breach of contract) to meet a requirement specified in the contract; or (iii) payable on the termination of the contract; and (c) the records (including accounts) to be made and kept, and how they are to be made and kept. (4) Subsection (3) does not limit the matters about which a railway assets contract may make provision. (5) A railway assets contract that is inconsistent with subsection (2) is void to the extent of that inconsistency.