(1)  A watercourse authority –

(a) authorises the person to whom it is issued to convey via a watercourse, in accordance with the conditions of the watercourse authority, water that has been taken and stored under and pursuant to this Act or the special Act; and

(b) unless sooner cancelled or surrendered and subject to the payment of any prescribed fees, continues in force for the period specified in the watercourse authority; and

(c) is not renewable or transferable.

(2)  To avoid doubt, a watercourse authority may be issued to and held by –

(a) a corporation; or

(b) an individual; or

(c) a group of individuals in common; or

(d) a water entity.

(3)  If subsection (2)(c) applies, the liability of the individuals under the watercourse authority is joint and several.

(4)  The holder of a watercourse authority may surrender it at any time by giving the Minister written notice to that effect.

(5)  A watercourse authority has no surrender value.

(6)  The holder of a watercourse authority must produce the authority for inspection if required to do so by an authorised officer.

Penalty:  Fine not exceeding 10 penalty units.