(1)(a)In this section—
“the affected property” means the land numbered on the deposited plans 1 and 6 in the London borough of Lambeth and the land so numbered 1 and 2 in the London borough of Southwark; and
“the specified works” means such works as are carried out for the purposes mentioned in column (3) of Schedule 4 to this Act.
(b)For the purposes of this section the reference in columns (1) and (2) of that Schedule to the land numbered on the deposited plans 1, 2 and 3 in the London borough of Lambeth shall be deemed to include a reference to the land so numbered 6 in that borough.
(2)Any work of alteration or adaptation of property of the railways board which may be necessary in order to construct the specified works and, thereafter, the use, maintenance, repair and renewal of such property and of the specified works shall be carried out and regulated by the Company or the railways board, or jointly by both of them, in accordance with such terms and conditions as may be agreed in writing between the Company and the railways board.
(3)(a)Any agreement made under this section may relate to the whole or part of the affected property and may contain such incidental, consequential or supplementary provisions as may be so agreed, including (but without prejudice to the generality of the foregoing) provisions—
(i)with respect to the defraying of, or the making of contributions towards, the cost of such works of alteration or adaptation or the costs of such maintenance, repair and renewal as are referred to in subsection (2) above by the Company or by the railways board or by the Company and railways board jointly; and
(ii)for the exercise by the railways board, or by the Company, or by the railways board and the Company jointly, of all or any of the powers and rights of the railways board and the Company (as the case may be) in respect of any part of the specified works under any enactment or contract.
(b)The exercise by the Company or the railways board or by the Company and the railways board jointly, of any powers and rights under any enactment or contract pursuant to any such agreement as is authorised by paragraph (a) above shall be subject to all statutory and contractual provisions relating thereto which would apply if such powers and rights were exercised by the Company or the railways board (as the case may be) alone, and all such provisions shall have effect for this purpose with any necessary modifications.
(4)The Company and the railways board may enter into, and carry into effect, agreements for the transfer to the Company, or the Company and the railways board jointly, of any part of the affected property.
(5)Any difference between the Company and the railways board under this section (other than a difference as to its meaning or construction) shall be referred to and settled by arbitration.