(1)  A water allocation, or a component of a water allocation, of a licence may be granted by the Minister in accordance with subsection (2) .

(2)  The Minister must allocate water in accordance with any relevant water management plan or, where there is no relevant water management plan, so as to give effect to the objectives of this Act.

(3)  The Minister may allocate water subject to conditions and those conditions, or such of them as the Minister specifies, are taken to be conditions of the licence to which a water allocation is for the time being attached.

(3A)  If a water allocation is granted for the taking of water into a dam to which relates a Division 3 permit, or a Division 4 permit, that authorises dam works but those dam works are not completed in accordance with that permit, the Minister, by written notice, may –

(a) cancel the water allocation; or

(b) vary the water allocation as provided by section 69(2)(fa) .

(4)  A water allocation, or a component of a water allocation, of a licence may be transferred, if the licence so provides and the Minister approves –

(a) in the case of a special licence, under Division 6 ; or

(b) in any other case, under Division 4 .