The Australian Competition and Consumer Commission has published its advice on proposed technical amendments to the Basin Plan water trading rules. These rules relate to the trading or transfer of tradeable water rights relating to Murray-Darling Basin water resources and form Chapter 12 of the Basin Plan 2012 (Cth).
On 18 August 2016 the Murray-Darling Basin Authority (MDBA) requested the ACCC’s advice on possible amendments to the Basin Plan water trading rules. Under the Water Act 2007 (Cth) the MDBA is required to obtain and have regard to advice by the ACCC when making or amending the water trading rules (s46(2)). Publication of the advice follows its public release by the Murray-Darling Basin Authority on 22 November 2016.
The MDBA is conducting public consultation on proposed amendments to the Basin Plan, including amendments to the water trading rules. Further information on the MDBA’s consultation process is available on the MDBA website.