(1) This subdivision facilitates the restructure of the bulk water industry in
the SEQ region by providing for a scheme (the
"scheme" ) to transfer particular authorities to take water, or to take and
interfere with water—
(a) to the bulk water supply authority; or
(b) from
the bulk water supply authority to other entities.
(a) a prescribed water authority may, under this subdivision, be replaced by 1
or more authorities to—
(i) take water; or
(ii) take and interfere with
water; and
(b) generally, a water authority mentioned in paragraph (a) is
transferred from the holder of the prescribed water authority (each a
"transferring entity" ) to an entity that will hold the authority to take
water, or the authority to interfere with water (a
"receiving entity" ).