Document ID: chunk:federal_register_of_legislation:F2017L00833:clause:1_9
Version: federal_register_of_legislation:F2017L00833
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 4917–5822

9  Exemption for persons holding water entitlements or contractual water rights because of enforcement of securities for moneylending agreements
(1)  For section 30U of the Act, Part 3B of the Act does not apply to a person if:
 (a) the person started to hold the person's :
             (i)  registrable water entitlement; or
               (ii) contractual water right described in paragraph 30H(1)(b), 30L(b) 30M(b), 30N(b), 30P(b), or 30Q(b) of the Act;
          by way of enforcement of a security held solely for the purposes of a moneylending agreement; and
 (b) the person is either:
            (i) the person (the first person) who entered the moneylending agreement; or
(ii)  a subsidiary or holding entity of the first person.
      (2) Subsection (1) applies whether the person started to hold the right as described in that subsection before, on or after the commencement of this section.