(1)  The councils are to procure, and participate in, the incorporation of 3 Regional Corporations under the names of –

(a) the "Tasmanian Water and Sewerage Corporation (Northern Region) Pty Limited" , the members of which are to be, at the time of incorporation, each of the councils in the northern region; and

(b) the "Tasmanian Water and Sewerage Corporation (North-Western Region) Pty Limited" , the members of which are to be, at the time of incorporation, each of the councils in the north-western region; and

(c) the "Tasmanian Water and Sewerage Corporation (Southern Region) Pty Limited" , the members of which are to be, at the time of incorporation, each of the councils in the southern region.

(2)  The Regional Corporations are to be incorporated as proprietary companies limited by shares under the Corporations Act.