Victorian Numbered Acts Victorian Numbered Acts(1) In section 5A(6) of the Valuation of Land Act 1960 , insert "and this sub-section".
(2) After section 13DF(2)(k) of the Valuation of Land Act 1960 insert —
"(l) where the value of any land has been determined on the basis that an associated water share in relation to that land is deemed relevant and where the water share ceases to be an associated water share in relation to the land because the owner of the water share—
(i) sells the water share to a person who is not a related person (within the meaning of section 3 of the Water Act 1989 ) to the owner; or
(ii) sells the water share to a person who is a related person to the owner of the water share and the water share becomes an associated water share in relation to other land;".
(3) After section 13DF(8) of the Valuation of Land Act 1960 insert —
'(9) In this section "associated water share" and "water share" have the same meanings as in section 3 of the Water Act 1989 .
(10) Sub-sections (2)(l), (9) and this sub-section expire on 1 July 2008.'.