Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Authority must, if the Living Murray Initiative so provides, manage the rights and interests that:
(a) are:
(i) water access rights, water delivery rights, irrigation rights or other similar rights relating to water; or
(ii) interests in, or in relation to, such rights; and
(b) are held for the purposes of the Living Murray Initiative;
in accordance with and in a way that gives effect to the Living Murray Initiative.
(2) The Living Murray Initiative is the Intergovernmental Agreement on Addressing Water Overallocation and Achieving Environmental Objectives in the Murray - Darling Basin of 25 June 2004 read together with:
(a) the Supplementary Intergovernmental Agreement on Addressing Water Overallocation and Achieving Environmental Objectives in the Murray - Darling Basin of 14 July 2006; and
(b) arrangements referred to in clause 3.9.2 of the Agreement on Murray - Darling Basin Reform - Referral.