(1)Subject to the provisions of this Act the Executive may—
(a)in the lines or situations shown on the deposited plans and according to the levels shown on the deposited sections, make and maintain the works in the Metropolitan Boroughs of Dudley, Sandwell and Wolverhampton specified in Part I of Schedule 4 to this Act, with all necessary works and conveniences connected therewith; and
(b)in so far as the same are shown on the deposited plans and sections, in the lines or situations and according to the levels so shown, carry out the further works, with all necessary works and conveniences connected therewith, and exercise the further powers, in the Metropolitan Boroughs of Sandwell and Wolverhampton described in Part II of the said Schedule 4.
(2)The Executive shall cease to have the powers to make and maintain the works, or to exercise the further powers, in the Metropolitan Boroughs of Dudley and Sandwell specified in Part III of the said Schedule 4.
(3)If so required in any agreement between the railways board and the Executive, the Executive shall—
(a)construct Work No. 7 in substitution for so much of the Works Nos. 1 and 2 authorised by the No. 1 Act of 1992 as is specified in Part IV of Schedule 4 to this Act; and
(b)remove any part of the said Works Nos. 1 and 2 authorised by the No. 1 Act of 1992 then no longer required;
and thereafter the Executive shall cease to have the power to make and maintain that part of the said Works Nos. 1 and 2 authorised by theNo. 1 Act of 1992, or to exercise the further powers, in the Borough of Wolverhampton specified in Part IV of the said Schedule 4.