61Notification of financial interest

61 Notification of financial interest

(1)  [Section 61 Subsection (1) amended by No. 56 of 2008, s. 31, Applied:11 Feb 2009] A licensee must, within 10 days after becoming aware of any financial interest of another person in the licence or in a water allocation endorsed on the licence, provide the Minister in writing with details of the interest.

(2)  [Section 61 Subsection (2) amended by No. 56 of 2008, s. 31, Applied:11 Feb 2009] A person is not taken to have a financial interest for the purposes of subsection (1) by reason only of the fact that he or she is a shareholder in, or a member of, a body corporate that holds the licence.

(3)  [Section 61 Subsection (3) amended by No. 33 of 2015, s. 13, Applied:01 Jan 2016] On receipt of notification under subsection (1) , the Minister must make a notation in the register of licences, water allocations and permits to that effect.

(4)  [Section 61 Subsection (4) amended by No. 33 of 2015, s. 13, Applied:01 Jan 2016] [Section 61 Subsection (4) amended by No. 56 of 2008, s. 31, Applied:11 Feb 2009] If the Minister is satisfied, on notification in writing by a person, that he or she has a financial interest in a licence or water allocation, the Minister must make a notation in the register of licences, water allocations and permits to that effect.

(5)  [Section 61 Subsection (5) amended by No. 33 of 2015, s. 13, Applied:01 Jan 2016] Where the register of licences, water allocations and permits includes a notation made under subsection (3) that a specified person has a financial interest in a licence or a water allocation of a licence, the Minister must, on written notification by that person that that interest no longer exists, remove that notation from the register.

(6)  [Section 61 Subsection (6) amended by No. 33 of 2015, s. 13, Applied:01 Jan 2016] Where the register of licences, water allocations and permits includes a notation made under that a specified person has a financial interest in a licence or a water allocation of a licence, the Minister must, on written notification by that person that that interest has been varied, amend that notation in the register accordingly.