 The Fourth Labour Government passed the New Zealand Railways Corporation Restructuring Act 1990 on 28 August of that year.New Zealand Rail Limited (NZRL) was established as a Crown Transferee Company under the provisions of the Act, and took over NZRC's rail transport and shipping activities, including the railway tracks, on 28 October 1990.NZRL leased the railway corridor from NZRC for $1 per year.