Rapid Transit Systems Act 1995 · 2020 Revised Edition · Part 3 · Operation of Rapid Transit Systems
16A. Restrictions on acquisition of essential operating assets
Feedback & supportLast amended by an amending law of 2010.
A person must not acquire, on or after 13 September 2010, any essential operating asset of a rapid transit system, or an interest in an essential operating asset of a rapid transit system (whether or not the acquisition is by way of the enforcement of a loan security) unless —
rapid transit system
“rapid transit system” means any railway line, or a combination of 2 or more railway lines, and any part thereof comprised in that line or those lines set up or intended to be set up under this Act to meet the transport requirements of the public and includes the Mass Rapid Transit system set up under the repealed Act;
the person is a licensee authorised by licence to operate that rapid transit system; or
the Authority consents in writing to the acquisition.
Any acquisition, or a purported acquisition, on or after 13 September 2010, of any essential operating asset of a rapid transit system or part thereof, or an interest in an essential operating asset of a rapid transit system or part thereof, in contravention of subsection (1) is void.
In this section, “essential operating asset”, in relation to any rapid transit system, means any land, plant, equipment, machinery or other property which —
land
“land” includes and may, where the context so requires, have any one or more of the following meanings separately:(a)land of any tenure and so much of the airspace above the surface as may be reasonably used or enjoyed by any owner thereof, and so much of the subterranean space below the surface as is reasonably necessary for the use and enjoyment of the land, whether or not held apart from the surface;(b)the whole or part of any building or other erection or fixture on land;(c)where an undivided share of a leasehold interest in land has appurtenant to it rights to the exclusive use and occupation of a building or part thereof on such land, such share in the land and all rights appurtenant thereto;(d)any other estate, right, share or interest in land;
is used or intended to be used (and whether or not it is also used for other purposes) by the licensee authorised by a licence to operate that rapid transit system; and
is designated by or under the licence to be an essential operating asset.