Commonwealth Consolidated Acts

WATER ACT 2007 - SECT 10

  (1)   This Act deals with, and provides for plans and rules made under this Act to deal with:

  (a)   water charges in relation to:

  (i)   the Basin water resources; or

  (ii)   water service infrastructure that carries Basin water resources; or

  (iia)   water service infrastructure that carries water that has been taken from a Basin water resource; or

  (iii)   water access rights, irrigation rights or water delivery rights in relation to Basin water resources; and

  (b)   the trading and transfer of tradeable water rights and eligible tradeable water rights in relation to the Basin water resources; and

  (c)   the market for tradeable water rights and eligible tradeable water rights in relation to the Basin water resource.

  (2)   The basis for dealing with those topics is that:

  (a)   the Basin water resources are physically interconnected; and

  (b)   the Basin water resources are a major Australian water resource and, because they are interconnected, are the major Australian water resource in relation to which:

  (i)   tradeable water rights and eligible tradeable water rights are able to be traded between States; and

  (ii)   water is, pursuant to that trade, able to be delivered between States; and

  (c)   the Basin water resources are scarce and at risk of continuing scarcity and further depletion; and

  (d)   the Basin water resources are subject to significant environmental threat; and

  (e)   there are important and significant environmental assets that are associated with the Basin water resources and that need protection; and

  (f)   the inefficient and/or inappropriate use of the Basin water resources would have a significant detrimental impact on:

  (i)   the availability of the Basin water resources; and

  (ii)   the health of the Basin water resources or the environmental assets associated with the Basin water resources; and

  (g)   the inefficient and/or inappropriate use of the Basin water resources would have a significant detrimental economic and social impact on the wellbeing of the communities in the Murray - Darling Basin; and

  (ga)   the integrity and transparency in water markets relating to Basin water resources; and

  (h)   this Act and the plans and rules relating to:

  (i)   water charging; and

  (ii)   trading; and

  (iii)   the transfer of tradeable water rights and eligible tradeable water rights; and

  (iv)   water markets;

    will promote:

  (v)   the more efficient use of the Basin water resources; and

  (vi)   the continued availability of the Basin water resources; and

  (vii)   the health of the Basin water resources and the environmental assets associated with the Basin water resources; and

  (viii)   the economic and social wellbeing of the communities in the Murray - Darling Basin.