SCHEDULE 1 - Provisions for in SCHEDULE 1 - Provisions for inclusion in constitution of corporation

Section 11(2)

1.   Entrenchment

(1) Any special resolution of the company that purports to modify or repeal the constitution or a provision of the constitution in breach of the requirements of subclause (2) does not have any effect.

(2) The constitution or a provision of the constitution may not be modified or repealed –

(a) in a way that would result in the constitution being inconsistent with the provisions of the Water and Sewerage Corporation Act 2012 or any regulations made under it; or

(b) unless the provisions of section 11 of the Water and Sewerage Corporation Act 2012 have been complied with.

2.   Act to prevail

(1) The provisions of the Water and Sewerage Corporation Act 2012 prevail over any inconsistent provisions of the constitution of the company.

(2) The company, its directors and members are expressly prohibited from exercising any of their powers in contravention of, or in a manner inconsistent with, any requirement of the Water and Sewerage Corporation Act 2012 .

3.   Subsidiaries

(1) The company may not –

(a) form, or participate in the formation of, any company, trust, managed investment scheme, other body corporate, partnership or joint venture; or

(b) acquire –

(i) any shares or other securities in a company; or

(ii) any interest, including any units, in any trust; or