(1)  Except as provided in section 74 , the Minister must approve an application for variation of a licence if satisfied that the variation –

(a) is in accordance with section 70 ; and

(b) is consistent with the objectives of this Act and any relevant water management plan; and

(c) could not be expected to lead to material environmental harm or serious environmental harm; and

(d) will not have a significant adverse impact on other persons taking water from the relevant water resource or on the commercial operations of a major user of water from that water resource.

(2)  An approval under subsection (1) takes effect on such day as is specified for that purpose in the notice of the approval given under section 75 .