Document ID: chunk:federal_register_of_legislation:C2023A00111:clause:3_101ja
Version: federal_register_of_legislation:C2023A00111
Segment Type: clause
Provision Reference: sch 3 cl 101JA
Character Range: 114100–115725

101JA  Person not to trade or transfer if aware of non‑water announcement information
 (1) A person (the insider) must not take any of the actions specified in subsection (2) if:
 (a) the person is aware, or ought to be aware, of information (non‑water announcement information) that is not water announcement information and that could reasonably be expected to have a material effect on the price or value of an eligible tradeable water right if the information were generally available; and
 (b) the non‑water announcement information has not been generally available for a reasonable period.
Note:  Sections 101JB, 101JC, 101JD, 101JE and 101JF provide for certain exceptions.
Civil penalty:  For an individual—2,000 penalty units.
  For a body corporate—see section 101K.
 (2) The actions the insider must not take are as follows:
 (a) to enter into a contract or agreement to trade or transfer the eligible tradeable water right;
 (b) to decide not to enter into a contract or agreement to trade or transfer the eligible tradeable water right, being a contract or agreement that the insider would have entered into but for the fact that the person was aware of the non‑water announcement information;
 (c) to apply to a water market authority in relation to the trade or transfer of the eligible tradeable water right;
 (d) to directly or indirectly communicate, or cause to be communicated, the non‑water announcement information to another person if the insider knows, or ought reasonably to know, that the other person would or would be likely to engage in conduct of a kind mentioned in paragraph (a), (b) or (c).