4.—(1) Subject to the provisions of this Order, the Company may construct and maintain the railway hereinafter described in the line and according to the levels and within the limits of deviation shown on the deposited plans and the deposited sections and with all proper rails, plates, sidings, junctions, bridges, culverts, drains, approaches, roads, yards, buildings and other works and conveniences connected therewith including station premises, workshops and facilities.
(2) The said railway is a passenger and freight carrying railway 4707 metres or thereabouts in length commencing at a point 18 metres or thereabouts south of the portal of the existing railway tunnel adjacent to Caernarfon Castle and extending in a southerly direction to the former Dinas Station of the Board and terminating at a point 45 metres or thereabouts north north west of the north western face of the existing bridge carrying the A487 Trunk Road over the formation of the railway authorised by the Welsh Highland Railway (Light Railway) Orders 1922 and 1923(1).
(3) Subject to the provisions of this Order, the railway or any part thereof shall be subject to all statutory and other provisions applicable to the former railway or any part thereof (insofar as the same are still substituting and capable of taking effect) and 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 relating to the former railway or any part thereof (insofar as the same are still subsisting and capable of taking effect) to the intent that the Board shall be released from all such obligations.
(4) The Company shall to the exclusion of the Welsh Highland Railway (Light Railway) Company and the Liquidator of that company be entitled to the benefit of, and to exercise, all rights, powers and privileges and be subject to all obligations whether statutory or otherwise for the time being in force in respect of so much of the railway as is to be on the line of the railway authorised by the Welsh Highland Railway (Light Railway) Orders 1922 and 1923.
S.R. & O. 1922/432; S.R. & O. 1923/275.