Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) A water management plan may, in order to improve the management of a water resource, change the basis on which water is allocated from the resource notwithstanding that a consequential variation of a licence to maintain consistency with the plan results in a reduction or increase in a water allocation of the licence.
(2) Where a change to the basis of allocating water from a water resource requires a reduction in the water allocations of licences to take water from the resource –
(a) the water management plan must provide an equitable procedure for effecting the reduction; and
(b) the procedure must give effect to the various sureties attaching to the licences or to the components of water allocations of the licences.