Assign share component

Assign share component

Application form: Assigning a share component between Water Access Licences (WALs)

Under Section 71Q of the Water Management Act 2000, the whole or part of the share component of a Water Access Licence (WAL) can be sold. For example, a WAL holder may wish to sell all or part of their share component (their share or entitlement of the available water under the WAL) to another WAL holder.

If you want to buy a share component and don't already hold a WAL, you must apply for a new WAL with a share component of zero units.

Note that for WALs with multiple holders, any reduction in value of the share component will affect the value of all holdings in the WAL.

For more information, see dealings process and Guide to the application to assign share components between WALs (PDF, 686.87 KB).

Search the NSW Water Register for trading statistics on share assignments and processing times for applications.

Special consideration - multiple holders

All holders should understand the implications of an assignment of share component for the value of their holding in the WAL.

An assignment of a share component to a WAL is likely to increase the value of the WAL. Any increase in value will benefit all holdings in the WAL.

In the case of multiple holders, a change in the share component will affect the value of all holdings in the WAL. Where one holder wants to undertake the share assignment, to avoid any impact on the value of the other holdings, it will be necessary for all the co-holders to lodge a transfer form (s.71M) to re-align the individual holding shares in the WAL. For more information, see Transfer access licence.

The transfer form (s.71M), where applicable, must be lodged with NSW Land Registry Services (NSW LRS), together with the share component (s.71Q) lodgement documents.

When registering the notification of the share assignment at NSW LRS, the consent of the holders of any registered security interests (mortgages and company charges held by a bank or other lending institution) in the WAL being reduced is also required and the WAL certificate must be produced.

Reducing the share component may also reduce your WAL's water allocation account limit. Should this happen, water allocations in excess of the new limit will be forfeited. For more information, refer to your water sharing plan account rules or contact the Customer Helpdesk on 1300 662 077 or email customer.helpdesk@waternsw.com.au.

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