Document ID: chunk:federal_register_of_legislation:C2008A00139:schedule:1:p103
Version: federal_register_of_legislation:C2008A00139
Segment Type: schedule
Provision Reference: sch 1 (pt 103/128)
Character Range: 355707–358527

beginning of the year in which this Appendix comes into effect.

PART I — ADJUSTING FOR TRANSFERRED ALLOCATIONS

    2. Adjusting cap for transferred allocations

The annual diversion target for a designated river valley, referred to in sub‑clause 12(1) of Schedule E, must either be increased or reduced, as the case requires, by the volume of any interstate or intervalley transfers of allocations into or out of that designated river valley in that year, multiplied by the appropriate cap transfer rate set out in Table 1 of a protocol made under paragraph 6(1)(a) of the Schedule.

PART II — ADJUSTING FOR ENTITLEMENTS TRANSFERRED BY TAGGED TRADE

    3. Cap adjustment for tagged trade

The annual diversion target for a designated river valley referred to in sub‑clause 12(1) of Schedule E must be:

(a) increased by the volume of water diverted in that designated river valley in that year, which is attributable to entitlements tagged to another designated river valley; and

(b) reduced by the volume of water attributable to entitlements tagged to that designated river valley, which is diverted in any other designated river valley in that year.

PART III — ADJUSTING FOR ENTITLEMENTS TRANSFERRED BETWEEN 1 JULY 1994 AND THE EFFECTIVE DATE, USING EXCHANGE RATES

    4. Interim register

The Authority must establish and maintain an interim register which records the volume of any entitlement transferred from a designated river valley to another designated river valley during each year between 1 July 1994 and the effective date.

    5. Adjusting annual diversion targets

Each year, the Authority must calculate the adjustment to the annual diversion target for a designated river valley for transfers recorded on the interim register referred to in clause 4, by:

(a) multiplying the cumulative volume of every entitlement of a particular type transferred into the designated river valley between 1 July 1994 and the earlier of the beginning of that year and the effective date, by the appropriate cap transfer rate set out in Table 2 of a protocol made under paragraph 6(1)(a) of the Schedule; and

(b) multiplying the cumulative volume of every entitlement of a particular type transferred out of the designated river valley between 1 July 1994 and the earlier of the beginning of that year and the effective date, by the appropriate cap transfer rate; and

(c) subtracting the product of (b) from the product of (a).

PART IV — ADJUSTING FOR ENTITLEMENTS TRANSFERRED OR CONVERTED AFTER THE EFFECTIVE DATE, USING EXCHANGE RATES

    6. Object of Part

The object of this Part is, subject to sub‑clause 8(1) of the Schedule, to minimise the impact of transfers or conversion of entitlements on entitlements held by third parties, by endeavouring to ensure that:

(a) the proportion of