Railway Law

1. Subject to relevant legal requirements, the Authority may, in accordance with the procedures specified in the Regulations, direct an infrastructure owner to appoint another licensee or any other person to carry out the licensed services in any of the following cases: a) If the licensee initiates bankruptcy proceedings, or other proceedings for settlement or voluntary or judicial liquidation. b) If the Authority, in accordance with the provisions of the Bankruptcy Law, anticipates the occurrence of any of the cases stated in paragraph (1)(a) of this Article. c) If the Authority cancels or suspends the license. d) If the licensee discontinues the service without the Authority’s prior written approval, or if the Authority becomes certain of the licensee’s intention to discontinue the service based on the results of an investigation conducted by a committee composed of representatives from the Ministry, the Authority, and the infrastructure manager. e) Any other case provided for in the concession contract concluded with the licensee which requires the replacement of said licensee with another. 2. The licensee shall notify the Authority immediately upon the occurrence of any of the cases provided for in paragraph (1)(a) of this Article. The Authority may petition the competent court to appoint a bankruptcy trustee in accordance with relevant laws. If the licensee is unable to continue to provide the service, the Authority may transfer such service to another person or more to ensure non-interruption thereof.