WATER MANAGEMENT ACT 2000 - SECT 71L How does a dealing take effect?

WATER MANAGEMENT ACT 2000 - SECT 71L

71L How does a dealing take effect?

(1) General dealings requiring consent A general dealing in an access licence or holding in an access licence that requires the Minister's consent takes effect as follows--

(a) application is made to the Minister in the approved form, and accompanied by the approved fee, for consent to the dealing,

(b) the Minister grants consent, but only if--

(i) the dealing complies with section 71Y (General) and with the other provisions of this Division that are applicable to the dealing, and

(ii) in the case of an access licence that is co-held--each co-holder of the licence has (subject to sections 71M and 71N) consented to the application,

(c) if an access licence or holding in an access licence is subject to a registered security interest, the security holder consents to the recording of the dealing in the Access Register,

(d) application is made to the Minister in accordance with subsection (2) to record the dealing in the Access Register,

(e) the dealing takes effect on registration (subject to and in accordance with this Act) in the Access Register.

(2) An application to record a dealing requiring the Minister's consent in the Access Register must be lodged with the Minister within 6 months (or such other period as is prescribed by the regulations) after consent is granted. Consent is taken to be revoked if an application is not lodged within that period.

(3) Dealings on default and general dealings not requiring consent A dealing on default or general dealing in an access licence or holding in an access licence that does not require the Minister's consent takes effect as follows--

(a) in the case of a general dealing in an access licence that is co-held--each co-holder of the licence has (subject to sections 71M and 71N) consented to the recording of the dealing in the Access Register,

(b) in the case of a general dealing in an access licence or holding in an access licence that is the subject of a registered security interest--consent to the recording of the dealing in the Access Register is obtained from the security holder,

(c) in the case of a dealing on default in an access licence or holding in an access licence--the dealing complies with section 71X (1),

(d) the dealing on default or general dealing complies with any other provisions of this Division that are applicable to the dealing,

(e) an application is made to the Minister to record the dealing in the Access Register,

(f) the dealing takes effect on registration (subject to and in accordance with this Act) in the Access Register.

(4) Assignment dealings An assignment dealing in an access licence takes effect as follows--

(a) an application is made to the Minister in the approved form for consent to the dealing,

(b) if the Minister grants consent, details of the assignment are entered in the water allocation account for the access licence and the dealing takes effect on that entry.