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<p>Whilst the franchise agreements are between the franchisees and the Secretary of
State who also retains statutory powers under the Railways Act 1993 in relation to
the franchises, the management of the Franchise Agreements is undertaken by a devolved
team based in Leeds which reports to a Joint Rail North/DfT Strategic Board.</p><p>
</p><p>In addition, Rail North Ltd has been given certain specific powers, including
the ability to vary the level of regulated fares for the Northern and TPE franchises,
which would otherwise be determined by the Secretary of State as part of a national
fares policy.</p><p> </p>
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