The purposes of this Act are to –

(a) provide for matters relating to the establishment and governance of 3 Regional Corporations, each having as its primary purpose the provision of water and sewerage services to its region, owned by the constituent councils of that region; and

(b) establish a Common Services Corporation owned by the 3 Regional Corporations; and

(c) vest the water and sewerage assets, rights and liabilities of councils and bulk water authorities in the Regional Corporations and the Common Services Corporation; and

(d) make provision for the transfer of water and sewerage employees of councils and employees of bulk water authorities to the Regional Corporations and the Common Services Corporation.