After section 5A(3) of the Valuation of Land Act 1960 insert —
'(4) For the purposes of sub-section (3), where a water share has been determined to be associated with any land that is specified in a water-use licence or water-use registration under the Water Act 1989 , that fact is deemed to be relevant when determining the value of that land.
(5) In this section, "water share" , "water-use licence" and "water-use registration" have the same meaning as in the Water Act 1989 .
(6) Sub-sections (4) and (5) expire on 1 July 2008.'.
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