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The Isle of Wight Light Railway Order 1991

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Transfer of rights, etc., from Board

4.  –

(1) Except as may be otherwise provided in this Order, the Company shall to the exclusion of the Board be entitled to the benefit of, and to exercise, all rights, powers and privileges and be subject to all obligations statutory or otherwise (insofar as the same are still subsisting and capable of taking effect) relating to the former railway to the intent that the Board shall be released from all such obligations.

(2) Paragraph (1) above shall have effect in relation to any part of the former railway which at the date of this Order is not vested in the Company as from the date upon which the freehold interest in such part is transferred by agreement to and vested in the Company.

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