71AB
In forceAmendment of licences if transfer approved
Part 6AATrading of water entitlements
71AB Amendment of licences if transfer approved
(1) If the Controller approves an application made under section 71AA(1), the Controller must amend the licences to:
(a)
reduce the seller's entitlement to water; and
(b) increase the buyer's entitlement to water by no more than the reduction in the seller's entitlement under paragraph (a).
(2) An amendment to a licence under subsection (1) is not a decision to which section 90 applies.
This Act’s bill:Second reading speech
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