Document ID: chunk:federal_register_of_legislation:F2010L02472:body:0:p3
Version: federal_register_of_legislation:F2010L02472
Segment Type: other
Provision Reference: 
Character Range: 5224–7964

appointment as an independent auditor, that a review is appropriate.

Schedule 1 Processes and principles
(Section 7)

Step 1 Lodging applications

 (1) An application must be lodged with the SOO retailer.

 (2) An SOO retailer that receives a duly completed application form must immediately:
 (a) note the application in its records; and
 (b) verify that the proposed tagging of the entitlement is not prohibited by any Protocol concerning limits on transfers; and
 (c) if the transfer is prohibited by such a Protocol – notify the applicant that the transfer is prohibited; and
 (d) if the transfer is not so prohibited – allocate a transaction identification number and forward a copy of the application and identification number to the relevant SOD retailer.

Step 2 Consideration of application by SOO retailer

 (1) After completing Step 1, the SOO retailer must then promptly:
 (a) verify ownership of the entitlement to which the application refers; and
 (b) verify that the person named in the application has the power to deal with an allocation made under the relevant entitlement; and
 (c) verify that the application will not result in the breach of any restriction on volumes transferable from the relevant trading zone or any other limits on transfers; and
 (d) verify that, if the application is approved, the entitlement will not be tagged to a location in more than one zone of destination; and
 (e) in view of paragraphs (a) to (d) and any other matters that the SOO retailer is required to consider, determine whether the application may be approved if Steps 3 and 4 are also satisfied.

 (2) If the SOO retailer determines that the application may not be approved, it must promptly notify the SOD retailer and the applicant.

 (3) If the SOO retailer determines that the application may be approved, it must promptly notify the SOD retailer.

Step 3 Consideration of application by SOD retailer

  When an SOD retailer receives a notification from an SOO retailer that an application may be approved, it must promptly:
 (a) if appropriate – determine whether the SOD retailer can deliver the water comprised in the relevant allocation; and
 (b) in view of any other matters it is required to consider, determine whether or not the application will be approved if Step 4 is also satisfied.

Step 4 Finalisation of tagging and advising the Authority

 (1) When an SOD retailer determines that an application will be approved, it must:
 (a) notify the SOO retailer and the Authority that the application will be approved; and
 (b) notify the applicant of any conditions which the SOD retailer will attach to the delivery of water pursuant to the relevant allocation.

 (2) The SOO retailer must:
 (a) ensure that all