Document ID: chunk:federal_register_of_legislation:C2008A00139:schedule:1:p116
Version: federal_register_of_legislation:C2008A00139
Segment Type: schedule
Provision Reference: sch 1 (pt 116/128)
Character Range: 390448–393344

as at the Corporatisation Date;

       (2) "Corporatisation Date" means the date on which the Snowy Mountains Hydro‑ electric Power Act 1949 (Cth) is repealed by the Snowy Hydro Corporatisation Act 1997 (Cth);

       (3) "Environmental Entitlement" means:

(a) a category of environmental water referred to in section 8 of the Water Management Act 2000 (NSW); and

(b) a bulk entitlement granted under the Water Act 1989 (Vic) that includes conditions relating to environmental purposes,

        in both cases comprising a volume of water derived from either or both of Water Savings and Water Entitlements;

       (4) "Goulburn River System" means the Broken, Goulburn, Campaspe and Loddon Rivers and the water supply systems supplied by those rivers;

       (5) "Licensee" means the licensee under the Snowy Water Licence;

       (6) "Long Term Diversion Cap" means the long term diversion cap for the State of New South Wales or the State of Victoria under clauses 5 and 6 respectively of Schedule E;

       (7) "Lower Darling River System" means the Darling River and its anabranch system from the upstream extent of the Menindee Lakes Storage and downstream and the water supply systems supplied by that River;

       (8) "Month" means calendar month and "Monthly" means each calendar month;

       (9) "Mowamba Borrowings Account" means the water account to be maintained by the Licensee under the Snowy Water Licence to account for flows made under the Snowy Water Licence from the Mowamba River and Cobbon Creek in the first three years after the Corporatisation Date;

       (10) "Murrumbidgee River System" means the Murrumbidgee River and the water supply systems supplied by that river;

       (11) "Relaxation Volume" has the same meaning as in the Snowy Water Licence as at the Corporatisation Date;

       (12) "Reliability" with respect to a supply of water means the statistical probability of being able to supply a particular volume in any Water Year;

       (13) "Required Annual Release" has the same meaning as in the Snowy Water Licence taken as a whole as at the Corporatisation Date. For the avoidance of doubt, "Required Annual Release" is not a reference to "Agreed Annual Release" under that Licence and a change to the Snowy Water Licence after the Corporatisation Date will not affect the calculation of Required Annual Releases for the purposes of this Schedule;

       (14) "Required Annual Release Shortfall" means, in any Water Year, the volume by which the Required Annual Release from the Snowy‑Murray Development in that Water Year exceeds the actual release from the Snowy Scheme to the catchment of the River Murray upstream of Hume Dam in that Water Year;

       (15) "River Murray Above Target Releases" means, in any Water Year, water that is released from the Snowy Scheme to the catchment of the River Murray upstream of