Document ID: chunk:federal_register_of_legislation:C2008A00139:schedule:1:p94
Version: federal_register_of_legislation:C2008A00139
Segment Type: schedule
Provision Reference: sch 1 (pt 94/128)
Character Range: 331979–334863

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 it thinks fit.

       (2) An exchange rate referred to in subparagraph 12(1)(b)(ii) must only be made to take into account either or both of:

(a) any changes in distribution losses; and

(b) any differences in utilization,

        resulting from the transfer.

       (3) A conversion factor and an exchange rate determined or altered by the Authority operates prospectively and cannot be used to alter:

(a) a previous entry made in any valley account; or

(b) any previous adjustment made to State entitlements or the cap on diversions, or the previous calculation of State financial contributions,

        under this Schedule.

       (4) A protocol referred to in sub‑clause 12(1):

(a) must specify how any conversion factor or exchange rate is to be applied; and

(b) may establish one or more zones within which an exchange rate will not be applied to specified types of entitlement; and

(c) must attempt to minimise any adverse effect that any conversion or any type of transfer may have on:

(i) water users, other than the transferor or transferee; and
(ii) the environment; and

(d) may provide for taking account of:

(i) any losses which may occur during transmission of an entitlement; and
(ii) any change in the level of reliability of supply of an entitlement resulting from the conversion or transfer; and
(iii) the extent to which the volume of water represented by an entitlement has been used; and
(iv) any adverse effect which the conversion or transfer may have on the environment; and
(v) any other matter which the Authority considers appropriate.

       (5) Each State Contracting Government must ensure that any licensing authority within the State applies any relevant conversion factor or exchange rate determined under this clause, in accordance with any protocol made under paragraph 6(1)(d).

    13. Restrictions on transfers

       (1) Subject to sub‑clause 13(4), a protocol made under paragraph 6(1)(e) may prohibit, restrict or regulate the transfer of a specified type of entitlement.

       (2) Without limiting sub‑clause 13(1), a protocol:

(a) must, subject to other provisions of this clause, facilitate the transfer of entitlements or allocations between hydrologically connected systems, in accordance with this Schedule; and

(b) must be consistent with any principles relating to markets in, and trading of, water entitlements and allocations, from time to time adopted by the Ministerial Council; and

(c) must not hinder the ability of the Authority to regulate and manage the flow of water within the upper River Murray and the River Murray in South Australia, in accordance with