Document ID: chunk:federal_register_of_legislation:C2008A00139:schedule:1:p93
Version: federal_register_of_legislation:C2008A00139
Segment Type: schedule
Provision Reference: sch 1 (pt 93/128)
Character Range: 329302–332208

or out of that State which the licensing authority considers necessary or desirable to ensure that the State meets its obligations under Schedule B.

       (3) The Authority must attribute salinity credits and debits arising from the dilution effects of interstate transfers of entitlements or allocations to the State of origin and State of destination, in equal shares and in accordance with any protocol made under paragraph 6(1)(b).

       (4) The Authority must attribute salinity credits and debits arising from changes to salt accession attributable to any transfer of entitlements or allocations, or changes to the use of water arising from such transfers, to the State in which the change occurs and in accordance with any protocol made under paragraph 6(1)(b).

PART IV — OPERATIONAL PRINCIPLES AND ADMINISTRATION

    11. Delivery of water and valley accounts

       (1) The Authority must ensure that water made available in each valley reflects the transfers of entitlements and allocations made under this Schedule, in accordance with any protocol made under paragraph 6(1)(c).

       (2) The valley accounts maintained under sub‑clause 11(2) of the former Schedule immediately prior to commencement of this Schedule are continued in existence.

       (3) For the purpose of this clause, the Authority must maintain a valley account referred to in sub‑clause (2):

(a) for each tributary in respect of which there are entitlements or allocations which may be traded under this Schedule; and

(b) in accordance with any protocol made under paragraph 6(1)(c).

       (4) The Authority may:

(a) in accordance with any protocol made under paragraph 6(1)(c), direct that water standing to the credit of a valley account for any valley be used for any purpose to which the Authority may have regard under sub‑clause 98(3) or 98(4) of the Agreement; and

(b) amend or cancel any such direction at any time.

       (5) A State Contracting Government must implement any direction given under paragraph 11(4)(a) in accordance with any protocol made under paragraph 6(1)(c).

       (6) With the consent of the State Contracting Government to whom a direction is given under sub‑clause 11(4), a direction may result in a valley account being overdrawn.

    12. Conversion factors and exchange rates

       (1) Subject to sub‑clause 12(2), the Authority may, by a protocol made under paragraph 6(1)(d), determine or alter one or more:

(a) conversion factors to be applied when converting an entitlement of one type into an entitlement of another type, in the same valley; and

(b) exchange rates to be applied under this Schedule:

(i) to any transfer of an entitlement by exchange rate trade; and
(ii) to any transfer of an entitlement by tagged trade or to any transfer of an allocation,

and must publish any such conversion factors and exchange rates in such manner as