Document ID: chunk:federal_register_of_legislation:F2024C00760:reg:24:p2
Version: federal_register_of_legislation:F2024C00760
Segment Type: reg
Provision Reference: reg 24 (pt 2/36)
Character Range: 313013–315863

water access right free of any restriction arising from the fact that the person acquired the water access right by way of trade.
(2) Despite subsection (1), if:
            (a) the trade of a water access right results in a change of the water resource to which the right relates; and
            (b) the carryover arrangement for the destination water resource is different from that of the origin water resource;
the carryover arrangement for the destination water resource may be applied to the water access right.
Note: See sections 12.21 and 12.22.

12.13 Overallocation
A person may trade a water access right within a water resource free of any restriction based on the fact that a water resource is overallocated.

12.14 Level of use of water access right
(1) A person may trade a water access right free of any restriction based on:
            (a) the historical level of use of the water access right; or
            (b) an anticipated increase in the use of the water access right.
Note: Section 12.21 prohibits exchange rates being applied to trades within or between regulated systems.
(2) Subsection (1) does not apply if:
            (a) the trade is between 2 places (whether or not ownership changes); and
            (b) there is a difference in the reliability or availability of water between the 2 places; and
            (c) the restriction is necessary in order to account for that difference.

12.15 Trade must not be made conditional on water delivery right
A person may trade a water access right or an irrigation right free of any condition that would require the person to hold, buy, sell, obtain, accept, terminate, or vary the volume or unit share of, a water delivery right.

        Subdivision B—Additional rules relating to surface water

12.16 Free trade of surface water
(1) A person may trade a water access right:
            (a) within a regulated system; or
            (b) between regulated systems; or
            (c) within an unregulated system;
free of any restriction on changing the location at which the water to which the right relates may be taken, and any restriction that is a volumetric limit, other than a restriction that:
            (d) is necessary because of a reason listed in subsection 12.18(1); and
            (e) is consistent with Subdivision A.
(2) For this section, if the boundary between 2 unregulated systems is based solely on the border between 2 Basin States, this section applies as if the 2 unregulated systems were one unregulated system.

12.18 Restrictions allowable for physical or environmental reasons
(1) A restriction of a type referred to in section 12.16 may be necessary because of:
            (a) the existence of a physical constraint; or
            (b) the need to address hydrologic connections and water supply considerations; or
            (c) the need