art 17 Transfer of railways by undertaker
(1) In this article— “lease” (“ prydles ”) includes an underlease and “lease” (“prydlesu”) where used as a verb shall be construed accordingly; “the transferee” (“ y trosglwyddai ”) means any person to whom the railways, or any part of them, are or is leased or sold in accordance with this article; and “the transferred undertaking” (“ yr ymgymeraeth a drosglwyddir ”) means so much of the railways as is leased or sold in accordance with this article. (2) Subject to paragraph (3) the undertaker may– (a) lease the railways, or any part of them, to any person; or (b) sell the railways, or any part of them, to any person; on such terms and conditions as may be agreed between the undertaker and the transferee. (3) The undertaker shall not lease or sell the railways, or any part of them, under this article to any person except with the consent of the Welsh Ministers. (4) Except as may be otherwise provided in this Order, (a) the transferred undertaking shall continue to be subject to all statutory or other provisions applicable to the transferred undertaking at the date of the lease or sale (in so far as the those provisions are still subsisting and capable of taking effect); and (b) the transferee shall, to the exclusion of the undertaker, (i) be entitled to the benefit of, and to exercise, all rights, powers and privileges, and (ii) be subject to all obligations, statutory or otherwise relating to the transferred undertaking (in so far as those provisions are still subsisting and capable of taking effect) to the intent that the undertaker shall be released from all such obligations. (5) Paragraph (4) shall have effect during the term of any lease granted under sub paragraph (2)(a) and from the operative date of any sale under sub-paragraph (2)(b).