Victorian Consolidated Legislation

Water Act 1989 - SECT 33T

Limited term transfers

33T. Limited term transfers





(1) The owner of a water share may transfer the whole of the right to future
water allocations under that share for a limited, identified and consecutive
period to the owner or occupier of land specified in a water-use licence or
water-use registration or of land in another State or a Territory of the
Commonwealth.

(2) A transfer under this section must specify the period for which the right
is being transferred, being a period of not more than 20 years.

(3) A transfer under this section entitles the holder of the transfer to
receive future water allocations under the water share from the date specified
in the transfer.

(4) A transfer under this section may have the effect, if so specified in the
transfer, of enabling the taking of water under a water allocation from a
water system that is not the associated water system for the water share.

(5) The holder of a limited term transfer may surrender the limited term
transfer.