Document ID: chunk:federal_register_of_legislation:F2010L02470:body:0:p3
Version: federal_register_of_legislation:F2010L02470
Segment Type: other
Provision Reference: 
Character Range: 6505–9339

Agreement, determine the net increase in the cap required for each designated river valley by collating information for every type of entitlement set out in the Transfer Register in every year, from the effective date to the beginning of the year for which the adjustment is to be made.
           Step 2. The Authority must first determine the Stage 1 valley adjustment for each designated river valley, in relation to every other designated river valley, by determining the lesser of:

                (a) the increase in the cap required in one valley (Step 1); and
                (b) the decrease in the cap required in the other valley (Step 1);

            and then:

                (c) adding the Stage 1 valley adjustment to the cap for the designated river valley mentioned in (a); and
                (d) subtracting the Stage 1 valley adjustment from the cap for the designated river valley mentioned in (b).

           Step 3. The Authority must calculate the total Stage 1 cap adjustment for each designated river valley by determining the sum of every Stage 1 valley adjustment (Step 2) calculated in relation to that designated river valley.
           Step 4. The Authority must calculate the Stage 1 net cap deficit for transfers between a designated river valley and every other designated river valley by subtracting the Stage 1 valley adjustment (Step 2) for a designated river valley from the net increase in cap required for that designated river valley (Step 1).
           Step 5. The Authority must determine the Stage 1 cap shortfall for transfers between a designated river valley and every other designated river valley, as:

                (a) if the Stage 1 net cap deficit (Step 4) is greater than zero — the Stage 1 net cap deficit (Step 4); or
                (b) otherwise — zero.

           Step 6. The Authority must determine the Stage 1 cap surplus for transfers between a designated river valley and every other designated river valley, as:

                (a) if the Stage 1 net cap deficit (Step 4) is less than zero  the absolute value of the Stage 1 net cap deficit (Step 4); or
                (b) otherwise — zero.

           Step 7. The Authority must calculate the maximum cap commitment for each designated river valley, by determining the sum of every Stage 1 cap shortfall (Step 5) in each other designated river valley from which, or into which, transfers have been made to or from the first mentioned designated river valley.
           Step 8. The Authority must calculate the interstate cap surplus for each designated river valley, by determining the sum of every Stage 1 cap surplus (Step 6) arising from transfers from, or into that valley, into or from designated river valleys in other States.
Implementation of Stage 2

 (2) For subclause 9 (2) of Appendix 3