Central Goulburn, Rochester and Campaspe Irrigation Areas reach 4% limit on transfers of high reliability water shares
The Central Goulburn, Rochester and Campaspe Irrigation Areas have reached the four percent limits on the transfer of high reliability water shares out of these Areas. In response, G-MW has suspended transfers from these Areas but will resume processing if during the remainder of the 2007/08 net trades move below the four percent limit.
G-MW's Executive Manager Water Delivery Services Ian Moorhouse emphasised that the suspension only applies to the Central Goulburn, Rochester and Campaspe irrigation Areas and is limited to transfers of high reliability water shares.
"We are continuing to process all other applications. Applications already received by G-MW that cannot be processed because of the limit will be returned to the applicants with a full refund of their application fees. Successful applicants will receive confirmation of their transfer by mail," explained Mr Moorhouse.
Other transfers G-MW will continue to process include:
- transfers from other Areas;
- transfers of high reliability water shares within the Central Goulburn, Rochester and Campaspe Irrigation Areas;
- transfers of low reliability water shares out of the Central Goulburn, Rochester and Campaspe Irrigation Areas.
G-MW will regularly update information on the trade limits in its weekly Dam Levels advertisements that appear each week across the Goulburn-Murray region, and individuals can also access updates at www.g-mwater.com.au/watertrading.
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Note to media
Under unbundling, there are three types of water trade available to an irrigator.
1. Allocation assignment, previously called temporary transfer
Allocation assignment is the process used to buy or sell seasonal allocation. It changes the amount of allocation available for use in the current season, but does not affect ownership of the water share.
2. Water share limited term transfer
Water share limited term transfer is the process the owner of a water share uses to lease the water share to another person. A limited term transfer does not change who owns the water share. During the period of the limited term transfer, the seasonal allocations from the water share go to the person ‘leasing' the water share.
3. Water share transfer, previously called permanent transfer of water entitlement
Water share transfer is the process used to buy or sell water shares. Water share transfer changes who owns the water share, and therefore who receives the seasonal allocation from the water share. Once the water share ownership is transferred the new owner receives all future seasonal allocation increases; the previous owner retains any seasonal allocation made before the water share was transferred.
Media Contact: Linda Nieuwenhuizen
Position: Corporate Communications Manager
Telephone: 03 5833 5776
Issued 3 October 2007