Water trading - a guide to your rights
This publication is a guide to help irrigators understand their fair trading rights when dealing with brokers and exchanges.
The guide includes:
- tips for irrigators when looking for a broker or exchange
- examples of conduct that is likely to contravene Competition and Consumer Act 2010
- information about remedies and penalties for breaches of the Competition and Consumer Act 2010
- steps to resolve a dispute with a broker or exchange.
This guide is intended to reflect the consumer law at a point in time and does not reflect changes to the Australian Consumer Law which have occurred since initial publication. These changes include changes to the definition of 'consumer'. For goods and services supplied from 1 July 2021, the threshold amount has increased from $40,000 to $100,000.
In October 2022, the Australian Government announced its commitment to legislate new functions for the ACCC as the water market conduct regulator in the Murray-Darling Basin. This is expected to create new legal obligations on water market participants. This guidance will be updated when these changes become law.
Note: This guide is not legal advice or a definitive list of situations where the Australian Consumer Law applies. Irrigators should review current legislation to ensure that they are aware of their rights and obligations under the Competition and Consumer Act 2010 and the Australian Consumer Law.