Document ID: chunk:federal_register_of_legislation:C2024C00557:schedule:1:p98
Version: federal_register_of_legislation:C2024C00557
Segment Type: schedule
Provision Reference: sch 1 (pt 98/154)
Character Range: 899123–901969

the purposes of exchange rate trade or tagged trade (or both), as the Ministerial Council may determine from time to time.

    3. Definitions and interpretation
       (1) In this Schedule and any protocols made under it, save where inconsistent with the context:
(a) "allocation" means the volume of water allocated for use under an entitlement in any water year (as defined in clause 2 of Schedule E) pursuant to the law of a State;
"cap on diversions" has the same meaning as in Schedule E;
"convert", in relation to an entitlement, means to convert an entitlement of one type, with lower reliability into an entitlement of another type, with higher reliability, or vice versa;
"conversion factor" means a factor determined for the purpose of clause 12;
"designated river valley" has the meaning set out in Schedule E;
"entitlement" means:
              (i) an entitlement to a particular share of water within the upper River Murray, the River Murray in South Australia or regulated reaches of the Goulburn, Broken, Campaspe, Loddon and Murrumbidgee river systems or a source referred to in paragraph 2(c) pursuant to the law of a State; or
              (ii) any other entitlement to divert water or to receive water diverted by another from those sources,
but does not include a State entitlement;
"environmental entitlement" means an entitlement to use water for environmental purposes;
"exchange rate" means a rate determined for the purposes of clause 12;
"former Schedule" means Schedule E of the former Agreement;
"interstate transfer" means a transfer of an entitlement or allocation made between States in accordance with this Schedule;
"intervalley transfer" means a transfer of an entitlement or allocation made out of a valley:
              (i) into another valley; or
              (ii) into the River Murray, or vice versa;
"licensing authority" means the authority within a State with power to make a final decision whether a transfer may be made into or out of that State;
"relevant water authority" in relation to an entitlement or allocation within an irrigation district, means the body responsible for administering that entitlement or allocation in that district;
"State of destination" means the State into which a transfer of an entitlement or allocation is, or is to be, made;
"State of origin" means the State out of which a transfer of an entitlement or allocation is, or is to be made;
"transfer", in relation to an allocation, includes:
              (i) the transfer of an allocation already made in a State of origin to a State of destination, in accordance with this Schedule; and
              (ii) the transfer of an allocation within a State, according to the laws of that State;
"transfer", in relation to an entitlement, includes:
              (i) the transfer of an entitlement, by either exchange rate