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4.—(1) The Society may on lands owned by it or leased from the Council and on the same line and levels as the Board’s railway construct, make and maintain a railway together with all necessary works and conveniences connected therewith.
(2) Subject to the provisions of this Order the Society’s railway or any part of it shall be subject to all statutory and other provisions applicable to the Board’s railway (insofar as they are still subsisting and effective) and the Society shall to the exclusion of the Board be entitled to the benefit of and exercise all rights, powers and privileges and be subject to all obligations statutory or otherwise relating to the Board’s railway (insofar as aforesaid) with the intent that the Board shall be released from all such obligations.
(3) Upon the expiration or sooner determination of any lease of lands granted by the Council to the Society for the purposes of paragraph (1) of this article, the Council shall be subject to all obligations statutory or otherwise relating to the Society’s railway (insofar as they are then still subsisting and effective).
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