Competition and Consumer (Price Inquiry – Water Markets in the Murray-Darling Basin) Instrument 2019

Competition and Consumer (Price Inquiry—Water Markets in the Murray-Darling Basin) Instrument 2019

The Australian Competition and Consumer Commission makes the following notifiable instrument.

Dated this 17 day of January 2020.   

Rayne de Gruchy

Chief Operating Officer

Contents

Part 1—Preliminary

1  Name

2  Commencement

3  Authority

4  Definitions

Part 2—Price inquiry into water markets in the Murray‑Darling Basin

5  Notice of holding of inquiry

6  Commencement of inquiry

Part 1—Preliminary

1  Name

  This instrument is the Competition and Consumer (Price Inquiry – Water Markets in the Murray-Darling Basin) Instrument 2019.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under section 95L of the Competition and Consumer Act 2010.

4  Definitions

Note: Expressions have the same meaning in this instrument as in the Competition and Consumer Act 2010 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

Act means the Competition and Consumer Act 2010.

Commission means the Australian Competition and Consumer Commission.

exempt supply has the meaning given by subsection 95A(1) of the Act.

goods has the meaning given by subsection 95A(1) of the Act.

infrastructure service has the meaning given by subsections 12.47(5A) of the Basin Plan 2012.

inquiry has the meaning given by subsection 95A(1) of the Act.

Murray-Darling Basin has the meaning given by the Water Act 2007.

Murray-Darling Basin water markets inquiry means the inquiry designated by the Competition and Consumer (Price Inquiry—Water Markets in the Murray‑Darling Basin) Direction 2019.

services has the meaning given by subsection 95A(1) of the Act.

supply has the meaning given by subsection 95A(1) of the Act.

trade has the meaning given by subsection 1.07(2) and (3) of the Basin Plan 2012.

tradeable water rights has the meaning given by the Water Act 2007.

water market intermediary has the meaning given by subsection 1.07(1) of the Basin Plan 2012.

Part 2—Price inquiry into water markets in the Murray‑Darling Basin

5  Notice of holding of inquiry

 (1) The Commission is to hold an inquiry into markets for tradeable water rights relating to water in the Murray‑Darling Basin, pursuant to the Competition and Consumer (Price Inquiry – Water Markets in the Murray Darling Basin) Direction 2019.

 (2) The inquiry is not to extend to any of the following:

 (a) seeking to identify the social and economic impact of water trading on communities in the Murray-Darling Basin;

 (b) considering the effectiveness of water buy-backs for environmental purposes;

 (c) the supply of a good or service that is an exempt supply.

Note: The matters referred to in paragraphs (a) and (b) fall within the scope of other inquiries.

 (3) The inquiry is to be held in relation to goods and services of the following description:

 (a) tradeable water rights; and

 (b) services facilitating the trade of tradeable water rights, including those offered by water market intermediaries; and

 (c) infrastructure services in relation to tradeable water rights.

 (4) The inquiry is not to be held in relation to the supply of goods and services by a particular person or persons.

6  Commencement of inquiry

  The commencement date of the inquiry is 9 August 2019.