WATER ACT 2000 - SECT 696 Procedure before authority is dissolved to convert to alternative institutional structures

WATER ACT 2000 - SECT 696

696 Procedure before authority is dissolved to convert to alternative institutional structures

(1) Before a regulation is made dissolving a water authority to allow it to convert to 1 or more alternative institutional structures—

(a) each new entity that is an alternative institutional structure must be established; and

(b) the Minister, after consultation with the Treasurer, must be satisfied the State has obtained or will obtain—

(i) a satisfactory indemnity for civil liabilities incurred by the State under section 705 ; and

(ii) appropriate payment from the new entity for the authority’s assets; and

(c) if 2 or more alternative institutional structures are or are to be established, the water authority must give the Minister a notice (an
"allocation notice" ) stating the proposed allocation of employees, assets, liabilities and property of any kind between the alternative institutional structures.

(2) For subsection (1) (a) , an alternative institutional structure consisting of all the parties to a closed water activity agreement is established if—

(a) the parties have entered the agreement; and

(b) section 1001 (1) and (2) , as applied under section 695A (5) , has been complied with.

(3) To remove any doubt, it is declared, for the conversion of a water authority to 1 or more alternative institutional structures consisting of all the parties to a closed water activity agreement, that nothing in this Act or the agreement or another document prevents the State from obtaining an indemnity or payment mentioned in subsection (1) (b) from any 1 or more of the parties.