Document ID: chunk:federal_register_of_legislation:F2024C00760:reg:24:p14
Version: federal_register_of_legislation:F2024C00760
Segment Type: reg
Provision Reference: reg 24 (pt 14/36)
Character Range: 344942–347816

be consistent with, and conducted pursuant to, a trading strategy; and
                (ii) the trading strategy has been the subject of a water announcement that has become generally available.

12.50 Water announcements must be made generally available
A person who makes a water announcement must ensure that it is made in a manner that makes it generally available.

12.51 Person not to trade if aware of water announcement before it is made generally available
(1) This section applies to a person who is aware of:
            (a) a decision:
                (i) that has been made, and is to be announced, by an agency of the Commonwealth or of a Basin State; and
                (ii) that has not been publicly announced; and
                (iii) the announcement of which will constitute a water announcement; or
            (b) a water announcement that is not generally available.
(2) The person must not:
            (a) take an action mentioned in subsection (3) in relation to any water access right whose price or value could reasonably be expected to be materially affected by the information referred to in subsection (1) if it were to become generally available; or
            (b) procure another person to take such an action.
(3) For subsection (2), the actions are:
            (a) enter into a contract to trade; or
            (b) if no contract is involved in the trade:
                (i) apply to an approval authority in relation to the trade; or
                (ii) if no approval is involved in the trade—apply to a registration authority in relation to the trade.

12.52 Chinese wall arrangements for agencies
(1) A relevant agency does not contravene section 12.51 by taking an action mentioned in subsection 12.51(3) at any time merely because of information in the possession of an officer or a member of staff of the agency if:
            (a) the decision to take the action was taken on its behalf by a person or persons other than that officer or member of staff; and
            (b) it had in operation at that time arrangements that could reasonably be expected to ensure that the information was not communicated to the person or persons who made the decision referred to in paragraph (a) and that no advice with respect to the decision was given to that person or any of those persons by a person in possession of the information; and
            (c) the information was not so communicated and no such advice was given.
(2) In this section:
relevant agency means:
            (a) the Commonwealth; or
            (b) a Basin State; or
            (c) a person that is:
                (i) an agency of the Commonwealth; or
                (ii) an agency of a Basin State.

        Chapter 13—Program for monitoring and evaluating the effectiveness of the Basin Plan

        Part 1—Preliminary

13.01 Simplified outline
(1) This