3.—(1) Except as may be otherwise provided in this Order, from the relevant date and during the continuance of the main lease—
(a)the railway or any part of it continues to be subject to all statutory and other provisions applicable to the railway at that date;
(b)the undertaker is to the exclusion of Network Rail except insofar as applies to the exercise by Network Rail of its rights under the main lease—
(i)entitled to the benefit of, and to exercise, all rights relating exclusively to the railway or any part of it; and
(ii)subject to article 4(2), subject to all obligations, relating exclusively to the railway or any part of it with Network Rail released from all such obligations; and
(c)rights which relate both to the railway and to the retained undertaking are concurrently exercisable by the undertaker and Network Rail so that the undertaker may exercise such rights, and is subject to any obligations, so far as they relate to the railway and Network Rail may exercise such rights, and is subject to any obligations, so far as they relate to the retained undertaking.
(2) In this article, “the retained undertaking” means Network Rail’s railway undertaking as existing from time to time, but does not include the railway.