Document ID: chunk:federal_register_of_legislation:C2023A00111:clause:3_101h
Version: federal_register_of_legislation:C2023A00111
Segment Type: clause
Provision Reference: sch 3 cl 101H
Character Range: 103571–106086

101H  Person not to trade, etc. or communicate certain matters if aware of water announcement information
 (1) A person (the insider) must not take any of the actions specified in subsection (2) if the person is aware, or ought to be aware, of information (water announcement information) that is:
 (a) a water markets decision that:
 (i) has not been announced as mentioned in subsection 101B(1); or
 (ii) has been announced as mentioned in subsection 101B(1), but has not been available for a reasonable period in order for it to be brought to the attention of interested members of the public; or
 (b) information that:
 (i) has not been generally available for a reasonable period; and
 (ii) relates to a water markets decision of a kind mentioned in paragraph (1)(a).
Note:  Section 101J provides for certain exceptions.
Civil penalty:  For an individual—2,000 penalty units.
  For a body corporate—see section 101K.
 (2) The actions the insider must not take are as follows:
 (a) to enter into a contract or agreement to trade or transfer an eligible tradeable water right, if the price or value of the eligible tradeable water right could reasonably be expected to be materially affected if the water announcement information had been announced or had been generally available for a reasonable period, as the case requires;
 (b) to decide not to enter into a contract or agreement to trade or transfer an eligible tradeable water right, being a contract or agreement that the insider would have entered into but for the fact that the person was aware of the water announcement information, if the price or value of the eligible tradeable water right could reasonably be expected to be materially affected if the water announcement information had been announced or had been generally available for a reasonable period, as the case requires;
 (c) to apply to a water market authority in relation to the trade or transfer of an eligible tradeable water right, if the price or value of the eligible tradeable water right could reasonably be expected to be materially affected if the water announcement information had been announced or had been generally available for a reasonable period, as the case requires; or
 (d) to directly or indirectly communicate, or cause to be communicated, the water announcement information to another person if the insider knows, or ought reasonably to know, that the other person would or would be likely to engage in conduct of a kind mentioned in paragraph (a), (b) or (c).