(1)Subject to the provisions of this Act, on the second appointed day there shall be transferred to the Central Board the functions of any joint water board (other than a joint water board which is mentioned in the third column of Part I of Schedule 1 to this Act) whose limits of supply are comprised in their area and whose principal function is the supply of water in bulk to the constituent authorities of that board, and on that day such a joint water board shall cease to exist.
(2)There shall be assigned to the Central Board the function of developing new sources of water supply for the purposes of giving a supply of water in bulk to two or more of the regional water boards of the regions comprised in their area.
(3)For the purposes of this section the provisions of Schedule 2 to this Act shall have effect for adapting statutory provisions as mentioned in that Schedule.