(1) This section applies to an authority to take or interfere with water that
a receiving entity holds, or a transferring entity continues to hold, under a
transfer notice.
(2) The authority continues under this Act until whichever
of the following first happens—
(a) the chief executive grants a water
licence to replace the authority;
(b) the authority is replaced with a water
entitlement.
(3) The chief executive may grant the receiving entity or
transferring entity a water licence to replace the authority to take or
interfere with water without the need for an application to be made under
section 206.
(4) Within 30 business
days after the chief executive grants the water licence, the chief executive
must give the receiving entity or transferring entity the licence and an
information notice about the granting of the licence.
(5) The water licence
has effect from the day the licence is given to the receiving entity or
transferring entity.
