38(1)As from the appointed day, the references to the Postmaster General in sections 4, 5(3) and 70 of Schedule 3 to the [1945 c. 42.] Water Act 1945 (which contain savings for his telegraphic lines) shall be construed as referring to the authority.
(2)The reference in the foregoing sub-paragraph to Schedule 3 to the Water Act 1945 shall be construed as including a reference to that Schedule as incorporated or applied by or under any enactment in force at the beginning of the appointed day.