- Act 51 of 2012 - Royal Assent 11 December 2012 TABLE OF PROVISIONS Long Title PART 1 - Preliminary 1. Short title 2. Commencement 3. Purposes of Act 4. Interpretation PART 2 - Corporation Division 1 - Establishment and principal objectives of Corporation 5. Formation of Corporation 6. Principal objectives of Corporation 7. Status of Corporation 8. Application of Corporations Act Division 2 - Share capital and ownership of Corporation 9. Share capital 10. Ownership and restrictions on sale and issue of securities Division 3 - Corporate governance of Corporation 11. Constitution of Corporation 12. Shareholders' letter of expectation 13. Corporate plan 14. Board of Corporation 15. Chief executive officer Division 4 - Operations of Corporation 16. Operation and management 17. Staff 18. Borrowings 19. Acquisition and disposal of assets, investments and liabilities 20. Sale or disposal of main undertakings Division 5 - Distributions and payments to councils 21. Distribution of dividends 22. Payment of guarantee fees 23. Payment of tax equivalents Division 6 - Other provisions 24. Accounts, records, financial statements and audits 25. Provision of information 26. Guarantee or indemnity PART 3 - Transfer of Water and Sewerage Assets, Rights, Liabilities and Employees 27. Interpretation and application 28. Notice of transfer 29. Confirmation of transfer 30. Vesting of assets, rights and liabilities in transferee 31. Transfer of interests in land 32. Transfer of interests in part of land 33. No compensation payable 34. Consideration for vesting 35. Transfers of employees generally 36. General preservation of conditions of employment 37. Superannuation 38. No dual benefits or payment-out on transfer PART 4 - Miscellaneous 39. Delegation 40. Regulations 41. Administration of Act 42. Staged repeal of Water and Sewerage Corporations Act 2008 43. Transitional provisions 44. Consequential amendments SCHEDULE 1 SCHEDULE 2[ Note: This table has been automatically generated and may be incomplete. ]