Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person who is required to ensure that information about the trade or transfer of an eligible tradeable water right is provided to a water market authority under section 135M (see subsection 135M(2)) must keep the following records in relation to the information that is provided:
(a) records of the reason for the trade or transfer, including records substantiating or supporting the reason;
(b) records of the price for which the eligible tradeable water right was traded or transferred, including records substantiating or supporting the price;
(c) such other information (if any) as is prescribed by the regulations.
(2) The person must keep the records for a period of at least 5 years beginning on the date on which the information was provided under section 135M.
(3) A person is liable to a civil penalty if the person contravenes subsection (1) or (2).
Civil penalty: 120 penalty units.