Document ID: chunk:federal_register_of_legislation:F2010L02471:reg:2:p2
Version: federal_register_of_legislation:F2010L02471
Segment Type: reg
Provision Reference: reg 2 (pt 2/2)
Character Range: 5903–7989

HSEC
New South Wales Murray
HSEC                    1.0000                  N/A              N/A     N/A       N/A
Victoria Murray
HR                      N/A                     1.0000           N/A     N/A       N/A
SA LIC                  N/A                     N/A              1.0000  N/A       N/A
Goulburn
HR                      N/A                     1.0000           1.0000  1.0000    N/A
Murrumbidgee HSEC*      N/A                     N/A              N/A     N/A       1.0000

Note: N/A means not applicable.  For these cases, exchange rate trade is not available.

11 Application of exchange rates

 (1) Exchange rates determined by this Protocol are to be applied in accordance with this section.

 (2) To calculate the volume of an entitlement of a particular type to be created in a State of destination, the volume of the entitlement to be cancelled, extinguished or suspended in the State of origin must be multiplied by the relevant exchange rate.

12 Reviews of exchange rates and conversion factors

  A State Contracting Government may ask the Authority to review a conversion factor or exchange rate if:
 (a) the total volume of a particular type of entitlement in a valley changes by at least 8%:
 (i) from 19 May 2006; or
 (ii) from the time a conversion factor or exchange rate is determined or altered by amendment to this Protocol;
 for any reason (including because of the conversion of               entitlements within the valley); or
 (b) any substantial change is made to a relevant existing best practice hydrological model (including any re-calibration or major improvement to a feature of the model); or
 (c) a new type of water entitlement is created in a State; or
 (d) an amendment is made to legislation or a statutory plan within a State that may affect exchange rates or interstate transfers of entitlements under Schedule D to the Agreement.

Notes

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.