The Cardiff and Valleys Railways (Transfer) Order 2019

Transfer scheme may impose obligations to enter into agreements or execute instruments

6.—(1) A transfer scheme may contain provision for imposing, on Network Rail or the undertaker, obligations—

(a) to enter into agreements with persons specified in the scheme,

(b) to execute instruments in favour of persons specified in the scheme, or

(c) to execute such other instruments as are necessary or expedient to identify or define the property, rights and liabilities transferred to the undertaker or retained by Network Rail.

(2) The persons who may be so specified are—

(a) the undertaker;

(b) Network Rail;

(c) any other person.

(3) The transfer scheme must specify or describe the agreement or instrument to which the obligation relates.

(4) Any such agreement may provide so far as it is expedient—

(a) for the granting of leases and for the creation of other liabilities and rights over land whether amounting in law to interests in land or not, and whether involving the surrender of any existing interest or the creation of a new interest or not,

(b) for the granting of indemnities in connection with the severance of leases and other matters, and

(c) for responsibility for registration of any matter in any statutory register.