Document ID: chunk:federal_register_of_legislation:C2008A00139:schedule:1:p105
Version: federal_register_of_legislation:C2008A00139
Segment Type: schedule
Provision Reference: sch 1 (pt 105/128)
Character Range: 360921–363818

Transfer Register.

Stage 2

Pool any cap surpluses and deficits calculated under Stage 1 in relation to each designated river valley, in order to reduce any shortfalls in each designated river valley.

Where lower reliability entitlements have been converted to higher reliability entitlements within a designated river valley, the net effect of that conversion on the cap attributable to that valley must be included in the pool. However:

(a) a shortfall within a designated river valley caused by such conversions cannot be reduced by attributing a surplus existing in another designated river valley; and

(b) the volume pooled with respect to a designated river valley cannot exceed the sum of the deficits arising in other designated river valleys, as a result of transfers between that designated river valley and other designated river valleys.

Stage 3

(a) Calculate any cap surplus resulting from Stage 2 for each designated river valley.

(b) Then allocate any of that cap surplus that is attributable to interstate transfers into or from that designated river valley to the environment, by

(c) reducing the annual diversion target for that designated river valley by the portion of the surplus referred to in paragraph (b).

The allocation referred to in paragraph (b) must only apply in the year in which it is made and will not create an entitlement to draw a comparable volume of water from any storage in the Basin. Progressively reducing annual diversion targets will, however, eventually allow more water to flow downstream.

Stage 4

Calculate the adjustment to each annual diversion target for each designated river valley by determining the sum of the total adjustments made under Stages 1, 2 and 3.

SCHEDULE E — CAP ON DIVERSIONS

    1. Purposes

The purposes of this Schedule are:

(a) to establish long‑term caps on the volume of surface water used for consumptive purposes in river valleys within the Murray‑Darling Basin (including, without limitation, water from waterways and distributed surface waters) in order to protect and enhance the riverine environment; and

(b) to set out action to be taken by the Ministerial Council, the Authority and State Contracting Governments to quantify and comply with annual diversion targets; and

(c) to prescribe arrangements for monitoring and reporting upon action taken by State Contracting Governments to comply with annual diversion targets.

    2. Definitions

       (1) In this Schedule, except where inconsistent with the context:

"baseline conditions" means:

(a) in the case of New South Wales and Victoria, means the level of water resource development for rivers within the Murray‑Darling Basin as at 30 June 1994 determined by reference to:

(i) the infrastructure supplying water; and
(ii) the rules for allocating water and for operating water management systems applying; and
(iii) the