Document ID: chunk:federal_register_of_legislation:F2024C00760:reg:2:p18
Version: federal_register_of_legislation:F2024C00760
Segment Type: reg
Provision Reference: reg 2 (pt 18/32)
Character Range: 272768–275739

either:
            (a) specify the conversion rate; or
            (b) set out the way in which the conversion rate will be determined from time to time and made generally available.

10.39 Circumstances in which conditions in section 12.26 are met
(1) A water resource plan must set out the circumstances in which trade between a groundwater SDL resource unit and a surface water SDL resource unit is permitted. In setting out the circumstances, a water resource plan must ensure that each condition set out in section 12.26 will be met in relation to proposed trade.
(2) If the water resource plan applies a conversion rate to meet the condition in paragraph 12.26(e), the water resource plan must either:
            (a) specify the conversion rate; or
            (b) set out the way in which the conversion rate will be determined from time to time and made generally available.

        Part 9—Approaches to addressing risks to water resources

10.40 Definitions
In this Part:
risk means a risk listed in a water resource plan in accordance with subsection 10.41(4).
level of risk has the meaning given in AS/NZS ISO 31000:2009 Risk Management—Principles and Guidelines.

10.41 Risk identification and assessment methodology
(1) A water resource plan must be prepared having regard to current and future risks to the condition and continued availability of the water resources of the water resource plan area.
(2) Without limiting subsection (1), the risks include (where applicable):
            (a) risks to the capacity to meet environmental watering requirements; and
            (b) risks arising from the matters referred to in subsection 10.20(1); and
            (c) risks arising from potential interception activities; and
            (d) risks arising from elevated levels of salinity or other types of water quality degradation.
(3) In identifying risks for the purposes of subsection (1), regard must be had to:
            (a) risks identified in section 4.02; and
            (b) any guidelines published by the Authority in relation to risk identification and risk assessment.
(4) The water resource plan must list the risks identified for the purposes of subsection (1).
(5) The water resource plan must assess each risk.
(6) The water resource plan must define the level of risk of each risk, using the following categories:
            (a) low;
            (b) medium;
            (c) high;
            (d) if it is considered appropriate, any additional category.
(7) The water resource plan must describe the data and methods used to identify and assess the risks.
(8) The water resource plan must describe any quantified uncertainties in the level of risk attributed to each risk, including the results of any sensitivity analysis.

10.42 Description of risks
A water resource plan must describe:
            (a) each risk which is defined in accordance with subsection 10.41(6) as having a medium or higher level of risk; and
            (b)