Publication | December 2017
All foreign persons (including foreign government investors) are required by 30 November 2017 to register their Australian registrable water entitlements and contractual water rights (water entitlements) on the new Water Register regardless of value and the industry sector the water entitlement is used for.
From 1 December 2017 all foreign persons must then update their information on the Water Register no later than 30 July each year.
The Water Register is part of the Australian Commonwealth Government’s measures to provide a transparent picture of foreign investment in Australian water entitlements and give the Australian community greater confidence in the foreign investment regime.
Registrable water entitlements and contractual water rights need to be registered on the Water Register.
A registerable water entitlement is:
A contractual water right is a contractual right that a person holds in respect of another person’s registerable water entitlement.
Stock and domestic rights, riparian rights and annual water allocations therefore do not need to be registered on the Water Register.
Registration of water entitlements are made online. There is no charge to register.
You should carefully consider your insurance policies to determine which of them may help to recover loss sustained. This might include the cost of cancelled travel or corporate events or any extra costs of working where staff have been told not to come into the workplace for prolonged periods.
The disruption caused by the COVID-19 virus across the supply chains of businesses in almost every industry has resulted in business’ contractual rights and obligations coming under the spotlight – specifically in terms of what can be used to excuse a party from performing their contractual obligations temporarily or, in some cases, indefinitely.
There is a regulatory framework which might provide options if you are experiencing ‘financial difficulty/financial hardship’ which, according to the Banking Code of Practice, means you are unable to repay what you owe and are experiencing difficulty meeting your repayment obligations.
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