Validity of [F1railway undertaking] licencesE+W+S
7.—(1) A [F2railway undertaking] licence shall, unless previously revoked or surrendered in accordance with any provision in these Regulations or the licence, continue in force as long as the ORR is satisfied that the railway undertaking concerned continues—
(a)to satisfy the requirements referred to in Schedule 2 as to good repute, financial fitness, professional competence and insurance cover for civil liabilities, and
(b)to submit the licence to the ORR for review or approval when so required under regulation 8.
(2) A [F3railway undertaking] licence may incorporate specific provisions governing the suspension or revocation of the licence.
Textual Amendments
F1Words in reg. 7 heading substituted (31.12.2020) by The Railway (Licensing of Railway Undertakings) (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/700), regs. 1(2), 9(a) (with regs. 32-39); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in reg. 7(1) substituted (31.12.2020) by The Railway (Licensing of Railway Undertakings) (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/700), regs. 1(2), 9(b) (with regs. 32-39); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 7(2) substituted (31.12.2020) by The Railway (Licensing of Railway Undertakings) (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/700), regs. 1(2), 9(b) (with regs. 32-39); 2020 c. 1, Sch. 5 para. 1(1)