default is no longer capable of being remedied;
or
(b)
in any other case
-
(i) in the case of a default taking place
prior to the discharge date, revoke the
franchises granted by Part II;
(ii) in the case of a default taking place on
or after the discharge date
(A)
in the case of a default by the Road
Company, revoke the franchise granted
by section 4(1); or
(B)
in the case of a default by the Rail
Company, revoke the franchise granted
by section 5(1),
and such revocation shall take effect from the
date specified in the order.