33TLimited term transfers of rights to future water allocations under water shares

33T Limited term transfers of rights to future water allocations under water shares S. 33T(1) amended by Nos 85/2006 s. 9(1), 50/2010 s. 5, substituted by No. 28/2014 s. 4(2). (1) The owner of a water share may transfer the whole of the right to future water allocations under that share for a fixed period to any person. (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. S. 33T(3) substituted by No. 32/2010 s. 9, amended by No. 48/2021 s. 8. (3) A transfer under this section authorises the holder of the transfer to take water under future water allocations under the water share— (a) from the date on which the transfer is recorded in the water register; or (b) if a later date is specified in the transfer, that date. S. 33T(4) substituted by No. 48/2021 s. 36 (as amended by No. 10/2023 s. 14). (4) A transfer under this section may specify that water taken under the transferred water allocations may be taken from— (a) a water system that is not the associated water system for the water share; or (b) a water system zone that is not the zone applying to the transferred water allocations immediately before the transfer. Approvals under Part 4AA are also required before water can be taken under water allocations under a limited term transfer. S. 33T(5) inserted by No. 85/2006 s. 9(2). (5) The holder of a limited term transfer may surrender the limited term transfer. S. 33TA (Heading) substituted by No. 48/2021 s. 9(1). S. 33TA inserted by No. 28/2014 s. 5. 33TA Standing assignments of future allocations under water shares S. 33TA(1) substituted by No. 48/2021 s. 9(2). (1) The owner of a water share, after obtaining the approval of the Minister, may assign the whole of the right to future water allocations under that share to another person. S. 33TA(2) repealed by No. 48/2021 s. 9(2). S. 33TA(3) amended by No. 48/2021 s. 9(3), substituted by No. 48/2021 s. 37 (as amended by No. 10/2023 s. 15). (3) An assignment under this section may specify that water taken under the assigned water allocations may be taken from— (a) a water system that is not the associated water system for the water share under which the water allocations are made; or (b) a water system zone that is not the zone applying to the assigned water allocations immediately before the assignment. Approvals under Part 4AA are also required before water can be taken under an assigned water allocation. S. 33TA(4) amended by No. 48/2021 s. 9(4). (4) A standing assignment takes effect on the date on which the Minister approves the giving of it under section 33X(1)(ba). S. 33TA(5) amended by No. 48/2021 s. 9(5). (5) A standing assignment remains in effect until— (a) its revocation is approved under section 33TB; or (b) the water share is— (i) divided under section 33Y; or (ii) consolidated with another water share under section 33Z; or (iii) surrendered under section 33AA; or (iv) cancelled under section 33AB or 33ABA. S. 33TB (Heading) amended by No. 48/2021 s. 10(1). S. 33TB inserted by No. 28/2014 s. 5, amended by No. 48/2021 s. 10(2). 33TB Ministerial approval of revocation of standing assignment The Minister, on application by the owner of a water share, may approve the revocation of a standing assignment. S. 33U inserted by No. 99/2005 s. 41.