A new Water Markets Intermediaries Code and trust accounting requirements are coming into effect. Some obligations start on 1 July 2025 and some start on 1 October 2025.
Where relevant, we have identified when each requirement starts on the water markets intermediaries code pages.
The code applies to a range of water markets intermediary services. Anyone who provides these services is an eligible water markets intermediary.
Water markets intermediaries have obligations under the code. These include how they conduct their business when providing water intermediary services to clients, and other requirements they must follow under the code.
Water markets intermediaries that receive money on behalf of another person when providing a water markets intermediary service must follow the statutory trust accounting requirements. These requirements provide safeguards to protect client money.
Water markets intermediaries that receive and hold water rights for a client must maintain broking accounts with a state or territory agency or an irrigation infrastructure operator.
The ACCC is responsible for enforcing compliance of the water markets intermediaries code. Breaches of the code can result in consequences such as infringement notices or court action.