206What applicant must demonstrate

206 What applicant must demonstrate

206 What applicant must demonstrate

The Regulator must not grant an exemption to an applicant unless satisfied that the applicant has demonstrated—

(a) that the applicant is, or is to be, a rail infrastructure manager or rolling stock operator in relation to the railway operations in respect of which the exemption is sought; and

(b) that the applicant—

(i) has the financial capacity, or has public risk insurance arrangements, to meet reasonable potential accident liabilities arising from the railway operations; and

(ii) has complied with the requirements prescribed by the national regulations (if any) for the purposes of this section.