(1) In section 33U(1) of the Principal Act, after "holder of a water share" insert ", after obtaining the approval of the Minister under section 33X,".
(2) Section 33U(1A) of the Principal Act is repealed .
(3) In section 33U(5) of the Principal Act, in the definition of "holder of a water share"—
(a) in paragraph (a), for "standing direction" substitute "standing assignment";
(b) for paragraph (c) substitute —
"(c) in the case of a water share in respect of which there is a standing assignment, the person to whom the standing assignment is given; or
(d) a person who, as a result of the operation of section 33S(3), has a water allocation available to them.".