59 Meaning and effect of railway administration order
Railways Act 1993 (1993 c 43) | Legislation

Railway administration orders, winding up and insolvency

59  Meaning and effect of railway administration order

(1)     A “railway administration order” is an order of the court made in accordance with section 60, 61 or 62 below in relation to a protected railway company and directing that, during the period for which the order is in force, the affairs, business and property of the company shall be managed, by a person appointed by the court,—

(a)     for the achievement of the purposes of such an order; and

(b)     in a manner which protects the respective interests of the members and creditors of the company.

(2)     The purposes of a railway administration order made in relation to any company shall be—

(a)     the transfer to another company, or (as respects different parts of its undertaking) to two or more different companies, as a going concern, of so much of the company's undertaking as it is necessary to transfer in order to ensure that the relevant activities may be properly carried on; and

(b)     the carrying on

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