sec.140Exemption—particular water entitlements

### sec.140 Exemption—particular water entitlements Transfer duty is not imposed on a dutiable transaction that is the grant of a water entitlement to the extent that it replaces and represents— a water entitlement held by the grantee; or an authority to take water under the repealed Water Resources Act 1989 held by the grantee immediately before the repeal of that Act. - (a) a water entitlement held by the grantee; or - (b) an authority to take water under the repealed Water Resources Act 1989 held by the grantee immediately before the repeal of that Act.