87Re-allocation of water

87 Re-allocation of water

(1)  The Minister may re-allocate all or part of a water allocation that –

(a) has been forfeited to the Minister on cancellation of the licence on which it was endorsed; or

(ab) [Section 87 Subsection (1) amended by No. 56 of 2008, s. 42, Applied:11 Feb 2009] has vested in the Minister on the surrender of the licence on which it was endorsed; or

(b) is an allocation of a licence which has been suspended, in which case the re-allocation may not be for a period longer than the period of suspension.

(2)  Any money received by the Minister following the re-allocation is to be applied as follows:

(a) firstly, in paying the costs of the re-allocation and any other costs incurred in any cancellation or suspension referred to in subsection (1) ;

(b) secondly, in discharging any liability of the former licensee under this Act to the Minister or a water entity;

(c) [Section 87 Subsection (2) amended by No. 56 of 2008, s. 42, Applied:11 Feb 2009] thirdly, in discharging any liability of the former licensee that is secured by a financial interest in the licence, or the water allocation, noted in the register;

(d) fourthly, in payment to the former licensee.

(3)  [Section 87 Subsection (3) amended by No. 40 of 2015, Sched. 2, Applied:01 Jul 2016] If the former licensee cannot be found after reasonable enquiries as to his or her whereabouts, any amount payable to him or her is to be dealt with as unclaimed money under the Unclaimed Money Act 2015 .