Railways Act 1993

Power to deal with charged propertyE+W+S

5(1)Section 15 of the 1986 Act (power to deal with charged property), as applied by this Part of this Schedule, shall have effect as follows.E+W+S

(2)In subsection (5)(b) (amount to be paid to chargeholder not to be less than open market value), for the words β€œin the open market by a willing vendor" there shall be substituted the words β€œ for the best price which is reasonably available on a sale which is consistent with the purposes of the railway administration order ”.