157Transformation of member’s water entitlement

#### 157 Transformation of member’s water entitlement 157 Transformation of member’s water entitlement > > (1) A corporation may make an application under Division 4 of Part 2 of Chapter 3 for the purpose of wholly or partly transforming a member’s water entitlement into an access licence under this Act. > > > (2) On transformation of the whole or part of a member’s water entitlement to an access licence— > > > > > (a) the member is not entitled to vote (as a board member) or as a member of the corporation on any matter relating to the transformation of one or more other members’ water entitlements or the supply of water to members who have not transformed their water entitlements, and > > > > > (b) the corporation may continue to exercise functions in relation to any corporation works that are located on the landholding (whether or not the corporation is to deliver the member’s water entitlement under the access licence or the landholder is a member of the corporation). > > > (3) If the whole of a person’s water entitlement is transformed and the person does not have a right to the delivery of that water by the corporation— > > > > > (a) the person ceases to be a member of the corporation, and > > > > > (b) the corporation must not fix rates and charges in respect of the person’s landholding for that water (other than termination charges). > > > (4) The rules may make provision for or with respect to other circumstances in which a person whose member’s water entitlement has been transformed ceases to be a member of the corporation. > > > (5) A corporation may require a member to provide security as a condition of consent to transformation of the whole or part of the member’s water entitlement, subject to the regulations. > > > (6) Without limiting subsection (5), the following kinds of security may be required by a corporation— > > > > > (a) a charge over a part of an irrigation right that is not transformed, > > > > > (b) a charge over an access licence or other entitlement to water acquired by the person and resulting from the transformation, > > > > > (c) a guarantee by an authorised deposit-taking institution, > > > > > (d) a deposit lodged with the corporation. > > **s 157:** Subst 2010 No 133, Sch 2\[54\].