sec.992PEffect of grant of water entitlement on existing authority to take or interfere with water under the special agreement

### sec.992P Effect of grant of water entitlement on existing authority to take or interfere with water under the special agreement A relevant company’s authority to take or interfere with water continues under the special agreement Act until 1 or more water entitlements are granted under section 992O to wholly replace the authority. However, if 1 or more water entitlements are granted under section 992O that partly replace the authority under the special agreement Act, the relevant company’s authority to take or interfere with water under the special agreement Act continues to operate but only to the extent the authority has not been replaced by the water entitlement or water entitlements. Subsection (4) applies if the chief executive and the relevant company agree that the water entitlement or water entitlements granted under section 992O wholly replace the company’s authority to take or interfere with water under a special agreement Act. After the water entitlement or water entitlements are granted under section 992O to the relevant company to wholly replace the authority under the special agreement Act— the company may only take or interfere with the water under the water entitlement or water entitlements; and any specified conditions for the special agreement Act cease to have effect. This section applies despite anything to the contrary in the special agreement Act. s 992P ins 2014 No. 64 s 185 (sec.992P-ssec.1) A relevant company’s authority to take or interfere with water continues under the special agreement Act until 1 or more water entitlements are granted under section 992O to wholly replace the authority. (sec.992P-ssec.2) However, if 1 or more water entitlements are granted under section 992O that partly replace the authority under the special agreement Act, the relevant company’s authority to take or interfere with water under the special agreement Act continues to operate but only to the extent the authority has not been replaced by the water entitlement or water entitlements. (sec.992P-ssec.3) Subsection (4) applies if the chief executive and the relevant company agree that the water entitlement or water entitlements granted under section 992O wholly replace the company’s authority to take or interfere with water under a special agreement Act. (sec.992P-ssec.4) After the water entitlement or water entitlements are granted under section 992O to the relevant company to wholly replace the authority under the special agreement Act— the company may only take or interfere with the water under the water entitlement or water entitlements; and any specified conditions for the special agreement Act cease to have effect. (sec.992P-ssec.5) This section applies despite anything to the contrary in the special agreement Act. - (a) the company may only take or interfere with the water under the water entitlement or water entitlements; and - (b) any specified conditions for the special agreement Act cease to have effect.