sec.80Sale or transfer of railway operations by accredited person

sec.80 Sale or transfer of railway operations by accredited person

If an accredited person proposes to sell or otherwise transfer any railway operations for which the person is accredited, the Regulator may, on an application for accreditation being made by the proposed transferee, waive compliance by the proposed transferee with any 1 or more of the requirements of this Part. However, the Regulator must not waive compliance with any such requirements unless the proposed transferee demonstrates, to the satisfaction of the Regulator, that the proposed transferee has the competence and capacity to comply with the relevant requirements of this Part that apply to applicants for accreditation of the appropriate kind. A waiver of compliance with requirements may be given subject to such conditions and restrictions (if any) as appear to the Regulator to be necessary. (sec.80-ssec.1) If an accredited person proposes to sell or otherwise transfer any railway operations for which the person is accredited, the Regulator may, on an application for accreditation being made by the proposed transferee, waive compliance by the proposed transferee with any 1 or more of the requirements of this Part. (sec.80-ssec.2) However, the Regulator must not waive compliance with any such requirements unless the proposed transferee demonstrates, to the satisfaction of the Regulator, that the proposed transferee has the competence and capacity to comply with the relevant requirements of this Part that apply to applicants for accreditation of the appropriate kind. (sec.80-ssec.3) A waiver of compliance with requirements may be given subject to such conditions and restrictions (if any) as appear to the Regulator to be necessary.