Water Management Act 2000

On the application of the holder or holders of two or more access licences of the same category with respect to the same water management area or water source, the Minister may consent to the assignment of rights between the access licences concerned by—

reduction of the share or extraction component, or both, of one or some of the licences, and

a corresponding increase in the share or extraction component, or both, of the others.

(Repealed)

This section does not authorise the reduction of the share or extraction component, or both, of a local water utility access licence.

An access licence whose share or extraction component is varied under this section is to be made subject to the mandatory conditions applicable to an access licence with a share or extraction component as so varied.

An access licence is not cancelled merely because, as a result of an assignment under this section, it has a zero share component or zero extraction component (or both) for the time being.