Queensland Consolidated Acts

WATER ACT 2000 - SECT 700

(1) This section applies if the Minister and the Treasurer are satisfied it is in the public interest to transfer the water authority's functions mentioned in section 699(3)(a) to the local government after considering the following—

(a) the report;

(b) the financial and other implications for the State;

(c) the authority's financial viability.

(2) However, this section does not apply for a proposed transfer to which section 700A applies.

(3) A regulation may approve the agreement mentioned in section 699(2).

(4) Before the regulation is made, the Minister and the Treasurer may require the local government to pay to the State, rather than the authority, consideration for transferring any assets of the authority.

(5) Subsection (4) does not apply to the Gladstone Area Water Board.

(6) The regulation must include, as an attachment, a copy of the agreement entered into between the water authority and the local government.

(7) The agreement takes effect when the regulation commences.