Railways (Access) Act 1998

The Regulator —

is responsible for monitoring and enforcing compliance by railway owners with this Act and the Code; and

also has the functions given by particular provisions of this Act and the Code.

The Regulator may exercise the powers given by this Part for the purpose of performing its functions under this Act and the Code.

Without limiting subsection (2), the powers given by this Part extend to financial information relating to a railway owner’s own use of railway infrastructure to which the Code applies.

In performing functions under this Act or the Code, the Regulator is to take into account —

the railway owner’s legitimate business interests and investment in railway infrastructure;

the railway owner’s costs of providing access, including any costs of extending or expanding the railway infrastructure, but not including costs associated with losses arising from increased competition in upstream or downstream markets;

the economic value to the railway owner of any additional investment that a person seeking access or the railway owner has agreed to undertake;

the interests of all persons holding contracts for the use of the railway infrastructure;

firm and binding contractual obligations of the railway owner and any other person already using the railway infrastructure;

the operational and technical requirements necessary for the safe and reliable use of the railway infrastructure;

the economically efficient use of the railway infrastructure; and

the benefit to the public from having competitive markets.