71LHow does a dealing take effect?

#### 71L How does a dealing take effect? 71L How does a dealing take effect? > > (1) General dealings requiring consent A general dealing in an access licence or holding in an access licence that requires the Minister’s consent takes effect as follows— > > > > > (a) application is made to the Minister in the approved form, and accompanied by the approved fee, for consent to the dealing, > > > > > (b) the Minister grants consent, but only if— > > > > > > > (i) the dealing complies with section 71Y (General) and with the other provisions of this Division that are applicable to the dealing, and > > > > > > > (ii) in the case of an access licence that is co-held—each co-holder of the licence has (subject to sections 71M and 71N) consented to the application, > > > > > (c) if an access licence or holding in an access licence is subject to a registered security interest, the security holder consents to the recording of the dealing in the Access Register, > > > > > (d) application is made to the Minister in accordance with subsection (2) to record the dealing in the Access Register, > > > > > (e) the dealing takes effect on registration (subject to and in accordance with this Act) in the Access Register. > > > (2) An application to record a dealing requiring the Minister’s consent in the Access Register must be lodged with the Minister within 6 months (or such other period as is prescribed by the regulations) after consent is granted. Consent is taken to be revoked if an application is not lodged within that period. > > > (3) Dealings on default and general dealings not requiring consent A dealing on default or general dealing in an access licence or holding in an access licence that does not require the Minister’s consent takes effect as follows— > > > > > (a) in the case of a general dealing in an access licence that is co-held—each co-holder of the licence has (subject to sections 71M and 71N) consented to the recording of the dealing in the Access Register, > > > > > (b) in the case of a general dealing in an access licence or holding in an access licence that is the subject of a registered security interest—consent to the recording of the dealing in the Access Register is obtained from the security holder, > > > > > (c) in the case of a dealing on default in an access licence or holding in an access licence—the dealing complies with section 71X (1), > > > > > (d) the dealing on default or general dealing complies with any other provisions of this Division that are applicable to the dealing, > > > > > (e) an application is made to the Minister to record the dealing in the Access Register, > > > > > (f) the dealing takes effect on registration (subject to and in accordance with this Act) in the Access Register. > > > (4) Assignment dealings An assignment dealing in an access licence takes effect as follows— > > > > > (a) an application is made to the Minister in the approved form for consent to the dealing, > > > > > (b) if the Minister grants consent, details of the assignment are entered in the water allocation account for the access licence and the dealing takes effect on that entry. > > **s 71L:** Ins 2004 No 39, Sch 3 \[6\]. Am 2015 No 58, Sch 1.14 \[1\].