(cf State Water Corporation Act 2004, section 10)(1) A constituent council may, by order in writing, transfer to the Corporation such of its staff as are specified or referred to in the order.(2) A constituent council may, by order in writing, transfer to the Corporation such of the council’s assets, rights and liabilities as are specified or referred to in the order.(3) A transfer order under subsection (2) may not be made by a constituent council unless the other constituent council has consented to the transfer order.(4), (5) (Repealed)(6) The fee simple in land that comprises the bed of any river, lake or estuary is not to be transferred to the Corporation under this section unless the Minister administering the Crown Lands Act 1989 has been consulted in relation to the transfer.(7) Subsection (6) does not prevent the transfer to the Corporation of the ownership of any works installed in or on the bed of any river, lake or estuary.(8) An order under this section may be made on such terms and conditions as are specified or referred to in the order (including terms and conditions for the payment of consideration agreed or determined in accordance with subsection (8A)).(8A) The consideration, if any, to be paid by the Corporation or a constituent council in respect of the transfer of any asset, right or liability of a constituent council to the Corporation is to be a fair value:(a) determined by agreement between the Corporation and both of the constituent councils, or(b) if such an agreement cannot be reached—determined by an independent arbitrator who is:(i) appointed by the Corporation and both of the councils, or(ii) appointed by the Minister if the Corporation and both of the councils cannot agree on an arbitrator.(8B) The determination of any such arbitrator as to an amount of consideration payable is final.(9) Schedule 5 applies to any transfer of staff, assets, rights or liabilities under this section.