....However, the current rules for seasons aren't the same. What is not so obvious - although I appreciate you have stated your view - is whether that crucial phrase, "cover the entire journey" implies that you have to go via the station where your tickets change or whether, as in the previous arrangement that you have described, you merely require any throughout validity from (here) London to Liverpool in order that you may go via any permitted route.
This whole issue has occurred to me before and I don't think the CoC is completely clear in this case, although it is clear enough that going via the changeover station will always be fine.
When dealing with two (or more) seperate tickets (not excesses) it is not always crutial to go via the 'splitting point'. I will use an example I know to explain how it works.
Liverpool to Earlestown and Earlestown to Manchester singles are valid for Liverpool-Hough Green-Warrington Central-Irlam-Manchester on a through train, provided the train stops at Warrington Central. This is because the Liverpool to Earlestown and Earlestown to Manchester singles are both valid via Warrington Central and so the tickets changeover there, there is no need to go via Earlestown.
Liverpool to Newton-le-Willows and Newton-le-Willows to Manchester singles would not be valid for Liverpool-Hough Green-Warrington Central-Irlam-Manchester because, although the Liverpool to Newton-le-Willows single is valid via Warrington, the Newton-le-Willows to Manchester ticket is not. The only point they meet is at Newton-le-Willows.
A Euston-Northampton season and Northampton-Rugby single together would
not be valid on the line that avoids Northampton as neither ticket is valid for that stretch of line. A Euston-Northampton single excessed to a Euston Liverpool ticket
would be valid to bypass Northampton. Bear in mind the line via Northampton is clearly shown in the routeing guide as a seperate route.
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....As an aside from this, when one does the combination of season + another ticket to go further & the train doesn't stop at the splitting station, what determines the ticket type you can buy to do the extension? The time you pass through the splitting station? the time of departure of the train you're on from it's origin?
The validity of the ticket would state what trains you can use and hence determine what ticket type you should have.
As an illustration of how complex it can get, Manchester to Huddersfield CDR validity codes says "not valid for trains timed to arrive in Leeds before 0930". Which means the CDR
is valid on the 0655 service from Manchester Victoria, but is
not valid on the 0826 from Manchester Piccadilly, purely because the 0655 does not go to Leeds, but the 0826 does.