71NTerm transfers of entitlements under access licences

#### 71N Term transfers of entitlements under access licences 71N Term transfers of entitlements under access licences > > (1) This section applies to access licences except local water utility access licences and major utility access licences. > > > (2) The holder of an access licence to which this section applies (the actual holder of the licence) may transfer the water entitlements conferred by the licence to another person for a specified period of not less than 6 months (a term transfer). > > > (3) The consent of the proposed transferee to the term transfer is required. > > > (4) The consent of the Minister is required before— > > > > > (a) the term transfer of an access licence of a category or subcategory prescribed by the regulations, or > > > > > (b) the term transfer of an access licence in circumstances prescribed by the regulations. > > > (5) During the period for which a term transfer has effect, the transferee is taken to be the holder of the access licence concerned in relation to any water entitlements (to the exclusion of the actual holder of the licence) for the following purposes— > > > > > (a) any entitlements conferred by the licence on the holder of the licence, > > > > > (b) the payment of fees and charges under the licence, > > > > > (c) compliance with the terms and conditions of the licence, > > > > > (d) compliance with any order or direction issued under this Act with which the holder of the licence must comply, > > > > > (e) Division 1A of this Part, > > > > > (f) an application under section 71W (Access licence may nominate water supply works) or 71T (Assignment of water allocations between access licences), > > > > > (g) any other purpose prescribed by the regulations. > > > (6) The period for which a term transfer is in force may be reduced with the consent of the transferee. > > > (7) Despite subsection (6), the Minister may consent to a reduction of the period of a term transfer without the consent of the transferee if satisfied that the transferee has failed to comply with any obligations imposed on the transferee under subsection (5). > > > (7A) The period for which a term transfer has effect may be extended, with the consent of the transferee, while the term transfer remains in force. > > > (8) During the period for which a term transfer is in force, the actual holder of the licence is entitled to apply in accordance with this Act for registration of any dealing with respect to the licence, but, in the case of a dealing other than a dealing under section 71M, only with the written consent of the transferee. > > > (9) This section applies to a term transfer of such water entitlements as are conferred by a holding in an access licence in the same way as it applies to the transfer of the whole of the water entitlements conferred by an access licence. In so applying this section, a reference in this section to the holder of an access licence is to be read as the holder of the holding in the access licence. > > > (10) However, holdings in access licences may be the subject of a term transfer only if the co-holders hold as tenants in common. > > > (11) A person who holds a holding in an access licence may transfer such water entitlements as are conferred by the holding without the consent of any of the other co-holders of the access licence. > > **s 71N:** Ins 2004 No 39, Sch 3 \[6\]. Am 2005 No 118, Sch 1 \[21\] \[22\]; 2009 No 56, Sch 1.44 \[4\].