(1)If an order has been made under section 36(1) of this Act specifying a day for the application of sections 37 and 38 of this Act and either—
(a)the period of eight years mentioned in subsection (5) of section 36 has expired without the order having been confirmed by order made under that subsection ; or
(b)before the expiry of that period a further order has been made under subsection (1) of that section for the purpose of revoking the order ;
the Secretary of State may by order make such transitional and consequential provision (including provision modifying any enactment contained in this or any other Act) as appears to him to be necessary or desirable in consequence of the expiry of Part II of this Act by virtue of section 39(b) of this Act.
(2)The transitional provisions and savings in Schedule 5 to this Act shall have effect.
(3)Subject to those transitional provisions and savings—
(a)the enactments mentioned in Schedule 6 to this Act shall have effect subject to the amendments specified in that Schedule, being minor amendments and amendments consequential on the provisions of this Act; and
(b)the enactments mentioned in Schedule 7 to this Act (which include enactments which were spent or of no practical utility at the passing of this Act) are repealed to the extent specified in the third column of that Schedule.
(4)For any reference in any statutory provision (other than one specifically amended by any provision of this Act) to the Executive there shall be substituted a reference to London Regional Transport.
(5)Subsection (4) above—
(a)applies to any reference, however worded, whether express or implied, and including a reference made by means of a general reference to a class of persons of which the Executive are one, without the Executive themselves being specifically referred to; and
(b)is without prejudice to the effect in relation to London Regional Transport of any provision of any agreement or of any provision of any other document (not being a statutory provision) which refers (in whatever words and whether expressly or by implication) to the Executive.
(6)No statutory provision excluded by section 24(4) of the 1962 Act from applying to any of the Boards (statutory provisions relating to accounts, statistics and returns to be kept by railway companies, etc.) shall apply to London Regional Transport or any subsidiary of theirs.
(7)Any order under subsection (1) above shall be subject to annulment in pursuance of a resolution of either House of Parliament.