Victorian Numbered Acts Victorian Numbered Acts(1) This section applies to rail assets owned by the State other than rail assets that are fixtures to land leased to a tourist and heritage railway operator under section 19.
(2) VicTrack may, on behalf of a State entity, grant to a person who is a tourist and heritage railway operator, or who intends to be a tourist and heritage railway operator, a lease that entitles the person to use, control or manage such assets in connection with the provision of historical and heritage related rail services.
(3) Subsection (2) applies despite section 118 of the Transport Integration Act 2010 .
(4) A lease of rail assets granted under subsection (2) must include the following—
(a) a description of each asset that is the subject of the lease;
(b) the term of the lease;
(c) the process for renewing the lease;
(d) the amount payable (if any) under the lease;
(e) for all rail assets that are the subject of the lease—
(i) the insurance arrangements for those rail assets; and
(ii) the maintenance responsibilities for those rail assets;
(f) a holding over provision to enable the lease to continue if, after the term of the lease, the lease is not renewed;
(g) the reclamation rights of the lessor including the notice required to be given to the lessee and any compensation payable;
(h) the process for the transfer of any rail assets that are the subject of the lease to another tourist and heritage railway operator or the sharing of those assets with another tourist and heritage operator;
(i) the circumstances under which any rail assets that are the subject of the lease may be sublet and the procedures for doing so.
(5) The amount payable under a lease granted under subsection (2) must not be more than a nominal amount.