5(1)Section 67 of the Act of 1962 and paragraph 4(5) of Schedule 16 to the Act of 1968 (which relate to the power to make bylaws for railways) shall have effect as if for any reference to the London Board there were substituted a reference to the Executive; and any bylaws made by the London Board under subsection (1) of the said section 67 and in force immediately before the vesting date shall continue in force until varied or revoked by the Executive by virtue of subsection (12) of that section and have effect as aforesaid.
(2)Subsection (2) of the said section 67 (which empowers the Railways Board to make bylaws in relation to passengers and goods conveyed in or on ships operated by the Board, and as to their embarkation and disembarkation) shall apply to the Executive as if for references therein to that Board there were substituted references to the Executive and as if the expression " ships " included hovercraft.