The purposes of this Act are to—
(a) enable the granting of long term leases for certain land adjacent to the Yarra River; and
(b) provide for certain consequential rights; and
(c) provide for the divesting of the land shown hatched on the plan in Schedule 2 from the Melbourne City Council; and
(d) provide for the appointment of the Melbourne City Council as committee of management of the land shown hatched on the plan in Schedule 2; and
(e) provide for other related matters.