Part I New Roads in England and Wales
Concession agreements
5 Transfer or termination of concession.
(1)
The rights of a concessionaire under a concession agreement may be assigned with the consent of the highway authority; and references in this Part to the concessionaire shall be construed as references to the person for the time being entitled to exercise those rights.
(2)
On the termination of a concession agreement (by effluxion of time or otherwise) there shall be transferred to the highway authority by virtue of this section all such property, rights and liabilities of the concessionaire as in accordance with the concession agreement fall to be so transferred in the circumstances.
Schedule 1 contains supplementary provisions with respect to that transfer.
(3)
Where a concession agreement terminates or is terminated before the end of the toll period, the highway authority—
(a)
shall take reasonable steps to secure the appointment of a new concessionaire, and
(b)
may, for a period of not more than two years until a new appointment or an extension toll order takes effect or the toll period ends, charge and collect tolls in the same way as a concessionaire.
(4)
A concession agreement may contain provision as to the circumstances in which, and extent to which, any sum received by the highway authority—
(a)
in consideration for the appointment of a new concessionaire, or
(b)
by way of tolls collected by virtue of subsection (3)(b),
is to be applied for the benefit of the former concessionaire or his creditors, as the case may be.