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Powers of railway company over abandoned railway line.
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8.—Where a railway company is authorised to abandon any railway line the power given by any enactment to sell land under and adjoining the line by private treaty to the owner of the land on both sides of the line may be exercised in favour of any owner of land on either side of the line; and to remove doubts it is hereby declared that such land or any part thereof may, in lieu of being sold, be retained and that any land so retained may be leased, let or utilised for any of the purposes of the company.
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