Condition 4 (financial ring-fence) of Network Rail's network licence includes provisions that:
- protect Network Rail's funders and customers from the company being exposed to risks that are not part of its role as the GB rail infrastructure operator. In other words, Network Rail is restricted from taking part in activities that are not part of its core business; and
- require Network Rail to prepare and submit Regulatory accounts.
Network Rail can seek our consent to get involved in some restricted activities. We consider each submission for consent on the basis of the information provided to us and having regard to our duties under the Railways Act. Consents issued under consent condition 4 can be viewed on our page - Consents for condition 4 of Network Rail's network licence.
- Solum Regeneration: request to vary existing financial ring-fencing consent - Letter to Network Rail, 30 September 2011 PDF, 61 Kb
- Network Licence C12 Ring-fencing - financial indebtedness consent - Apr 07 PDF, 121 Kb
- Network Licence Condition 12: ORR consent PDF, 16 Kb
- Network Licence Condition 12: consent to property activities PDF, 1,093 Kb
- Notice of proposed network licence modifications (Oct 02) PDF, 547 Kb
- Disposal of assets and ring fencing consultation (Sept 00) PDF, 111 Kb
- PR08 - Licence review - consultation on financial conditions PDF, 338 Kb