50.— (1) Without prejudice to the State Authorities (Public Private Partnership Arrangements) Act 2002, a water services authority, subject to any conditions of a related planning permission under the Act of 2000, may enter into an agreement.

(2) Subject to subsection (3), the agreement referred to in subsection (1) is an agreement with any person proposing to construct any waterworks or waste water works, or any part of a waterworks or waste water works, F37[…] for the purpose of that waterworks or waste water works, or part of it being constructed by that person in accordance with the agreement.

(3) The agreement referred to in subsection (1) shall be entered into with a view to the water services authority, upon its completion and at a specified date, declaring by order the waterworks or waste water works, or such part of the waterworks or waste water works covered by the agreement, to be vested in the water services authority.