Section 95 of the Principal Act is amended as follows:

(a) by omitting subsection (1) and substituting the following subsections:

(1)  The holder of a licence or a person entitled under section 106(7) may, subject to this Division and the conditions of the licence, transfer –

(a) the licence (including any water allocation of the licence); or

(b) a water allocation of the licence.

(1A)  However, a transfer under subsection (1) requires and is ineffective without the Minister's approval unless, in the case of subsection (1)(b) , the Minister is the transferee.

(b) by omitting subsection (5) and substituting the following subsection:

(5)  Where a transfer under this section is for a limited period, the transfer is to be effected by a Ministerial endorsement on the transferring and receiving licences.

(c) by omitting subsection (6) .