(1) The Auckland Council must immediately transfer to Watercare Services Limited any financial contribution (or any part of a financial contribution) that is or was required for water supply or wastewater services infrastructure and that is—
(a) referred to in section 91A; or
(b) that the Council receives in accordance with the requirements of any plan referred to in section 105(2).
(2) Subsection (3) applies to a financial contribution—
(a) described in subsection (1); or
(b) vested in Watercare Services Limited by operation of section 37 of the Reorganisation Act.
(3) Watercare Services Limited must use the financial contribution in reasonable accordance with the purposes for which the money was received by the existing local authorities or the Auckland Council.