8Payment to owners surrendering water entitlement

8 Payment to owners surrendering water entitlement

8 Payment to owners surrendering water entitlement

(1) If the Board receives a sum of money under clause 7 (3) (a), the Board must as soon as practicable pay that sum of money to the owner of the irrigated holding who surrendered the entitlement to the quantity of water for which the money was paid, less a service fee determined by the Board and any amount owed by the owner to the Board.

(2) If the Board is, pursuant to subclause (1), required to pay a sum of money to 2 or more owners of irrigated holdings, the Board must divide that sum of money among those owners in the same proportion as the quantity of water surrendered by each owner bears to the total quantity of water surrendered.