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Contents (2000 - 92)
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Water Management Act 2000 No 92
Current version for 1 July 2019 to date (accessed 20 September 2019 at 10:23)
Schedule 1B
Schedule 1B Provisions relating to exit from co-held access licence
(Section 74 (7))
1   Definitions
In this Schedule:
extinguished holdings means the holdings in an access licence extinguished by the Minister under section 74.
new access licence means an access licence granted by the Minister under section 74 (1).
original access licence has the meaning given by section 74 (1).
2   Share component of new access licence
The share component of the new access licence:
(a)  in a case where all the co-holders consented to the application under section 74 (1)—is to be allocated between the original access licence and the new access licence in accordance with the directions in the application, or
(b)  in a case where co-holders who hold a majority share of the holdings under the original access licence consented to the application under section 74 (1)—is to be allocated between the original access licence and the new access licence in the same proportions as the extinguished holdings bear to the whole of the holdings in the original access licence, or
(c)  in a case where co-holders holding a majority of the water entitlements under the original access licence did not consent to the application under section 74 (1)—the share component for the original access licence is to be distributed between the original access licence and the new access licence in accordance with the order of the Supreme Court under section 74.
3   Extraction component of new access licence
(1)  If the extraction component of the original access licence did not specify a volume limit or some other kind of restriction on the amount of water to be extracted, the new access licence is to have the same extraction component as applied to the original access licence.
(2)  If the extraction component of the original access licence specified a volume limit or some other kind of restriction on the amount of water to be extracted, the extraction component of the new access licence:
(a)  in a case where all the co-holders consented to the application under section 74 (1)—is to be allocated between the original access licence and the new access licence in accordance with the directions in the application, or
(b)  in a case where co-holders who hold a majority share of the holdings under the original access licence consented to the application under section 74 (1)—is to be allocated between the original access licence and the new access licence in the same proportions as the extinguished holdings bear to the whole of the holdings in the original access licence, or
(c)  in a case where co-holders holding a majority of the water entitlements under the original access licence did not consent to the application under section 74 (1)—the extraction component for the original access licence is to be distributed between the original access licence and the new access licence in accordance with the order of the Supreme Court under section 74.
4   Water allocation account for new access licence
The water allocations for a water allocation account for an original access licence and new access licence are to be adjusted as follows:
(a)  in a case where all the co-holders consented to the application under section 74 (1)—the water standing to the credit of the water allocation account for the original access licence is to be distributed between the water allocation accounts for the original access licence and the new access licence in accordance with the directions in the application,
(b)  in a case where co-holders who hold a majority share of the holdings under the original access licence consented to the application under section 74 (1)—the water standing to the credit of the water allocation account for the original access licence is to be distributed between the water allocation accounts for the original access licence and the new access licence in the same proportions as the extinguished holdings bear to the whole of the holdings in the original access licence,
(c)  in a case where co-holders holding a majority of the water entitlements under the original access licence did not consent to the application under section 74 (1)—the water standing to the credit of the water allocation account for the original access licence is to be distributed between the water allocation accounts for the original access licence and the new access licence in accordance with an order of the Supreme Court under section 74 (4).
5   Conditions of new licence
A new access licence, at the time at which it is granted, is subject to the same mandatory conditions to which the original access licence was subject at that time.
6   Nominated water supply work for new access licence
A water supply work nominated in relation to an original access licence is taken to be nominated in relation to the new access licence unless:
(a)  the nomination of the water supply work is withdrawn in accordance with this Act, or
(b)  a different water supply work is nominated in accordance with this Act, or
(c)  an order of the Supreme Court made under section 74 provides otherwise.
7   Security interests relating to new access licences
(1)  A dealing under section 74 is not to be recorded in the Access Register unless the consent of any holder of a security interest in the extinguished holdings of the original access licence has been obtained.
(2)  Any security interests that subsisted in the extinguished holdings, as in force immediately before they were extinguished, become equivalent interests in the new access licence.