PART IITRANSFER OF THE RAILWAY
Transfer of the railway
4.—(1) Subject to the following provisions of this Order, Railtrack may transfer the whole or any part of the railway to the Company on such terms and conditions as may be agreed between Railtrack and the Company.
(2) The power of transfer in paragraph (1) shall not be exercisable unless Durham County Council has previously certified in writing that it is willing to assume responsibility under article 9(2) for the structure of any bridge carrying a highway over the railway or the relevant part thereof.
(3) On and after the transfer date the Company shall to the exclusion of Railtrack be entitled to the benefit of and to exercise all rights, powers and privileges and (subject to article 9) be subject to all obligations of Railtrack whether statutory or otherwise relating to the railway or the relevant part thereof, with the intent that Railtrack shall be released from all such obligations.