Water share trade and allocation trade in Victoria is governed by rules set by the Minister for Water. The trading rules aim to facilitate trade wherever possible, while minimising negative impacts on other users and the environment.
A copy of the consolidated trading rules for declared water systems is available below, along with a map that shows the trading zones and summarises trading capability between zones for Victorian regulated water systems.
The notes below provide further explanation of the changes to trading rule 25 (commonly referred to as the 4% limit).
Trading of take and use licence is managed by the relevant rural water corporations in accordance with the Ministerial Policies for Managing Take and Use Licences. Prior to deciding to approve a permanent or temporary transfer of a take and use licence, the water corporation must have regard to a number of matters including any adverse impacts on other water users.
Local trading rules for licences in water supply protection areas may be specified in a local water supply management plan. These plans are available from the relevant rural water corporation.
The Australian Competition and Consumer Commission (ACCC) has released three guides to help irrigators and water brokers and exchanges understand their rights and responsibilities under federal, state and territory trading laws.
The guides include tips on how to select a broker and what to keep in mind when arranging a trade. They are available on the internet at www.accc.gov.au or by contacting the ACCC’s Infocentre on 1300 302 502.