Examples of KCR in a sentence
The KCR System The KCR System comprises the KCR railway and its bus services.
In February 2004, the Government invited the Company and KCRC to commence discussions relating to a possible merger of the MTR railway and the KCR railway and related businesses.
The Service Concession, which was granted by KCRC to the Company under the Service Concession Agreement dated 9th August 2007 (“Existing Service Concession Agreement”), provides the necessary legal framework to enable the Company to access, use and operate the assets required to run the KCR railway.
After the Rail Merger, the Company is required to operate the KCR railway subject to the Mass Transit Railway Ordinance (as amended by the Rail Merger Ordinance (Ordinance No. 11 of 2007) (the “Rail Merger Ordinance”)) and the New Operating Agreement.
The Integrated MTR System With effect from the Merger Date, the MTR System and the previous KCR System (as at the Merger Date) have operated as a single combined system (the “Integrated MTR System”, as described below).
As a result, certain breaches thereof with respect to the KCR railway could potentially result in a revocation of MTRCL’s entire franchise (i.e. with respect to the MTR railway as well as the KCR railway).
Breach of the Mass Transit Railway Ordinance or the New Operating Agreement with respect to the MTRCL’s post-Rail Merger franchise relating to the KCR railway may potentially result in fines and/ or, in an extreme case, revocation of the MTRCL’s entire franchise.
After the merger of the MTR railway and the KCR railway and related businesses (the “Rail Merger”) (which occurred on the Merger Date) there are certain risks to the Company associated with operation of the KCR railway.
The MTR railway and the KCR railway (the “Integrated Railway”), Light Rail and HSR are subject to a single regulatory regime and its operations are regulated by the Mass Transit Railway Ordinance, the Mass Transit Railway Regulations (Cap.
The Merger Agreements (as defined on page 75), together with the Rail Merger Ordinance, provide the legal framework and specific terms and conditions for the implementation of the Rail Merger and the continued operation of the MTR and KCR railways.