Water Act 2007

If the ACCC gives a notice under subsection 100W(1) to an eligible water market intermediary requiring the provision of a trust account statement or a trust account audit report for one or more financial years of the eligible water markets intermediary, the statement or the report must be provided:

if the notice is given after the relevant day—within 21 days of the day on which the notice is given; or

if the notice is given before the relevant day—within 21 days of the relevant day; or

if the period that would otherwise apply is extended under subsection (2)—before the end of the extended period.

The ACCC may, on application made by the eligible water markets intermediary or, if applicable, the auditor that is to prepare the trust account audit report, extend the period for complying with the notice. The extension may be of the period originally applicable or the period applicable under a previous extension.

An extension may be given subject to any conditions imposed by the ACCC.

A member of the ACCC may, in writing, delegate the member’s powers under subsection (2) to a member of the staff of the ACCC who is an SES employee or an acting SES employee.

Section 2B of the Acts Interpretation Act 1901 contains the definitions of SES employee and acting SES employee.

Sections 34AA to 34A of the Acts Interpretation Act 1901 contain provisions relating to delegations.

A delegate under subsection (4) must comply with any written directions of the member of the ACCC who delegated the powers.

For the purposes of paragraphs (1)(a) and (b), the relevant day, in relation to a trust account statement or a trust account audit report, means the day that is 3 months after the end of the most recent financial year of the eligible water markets intermediary to which the trust account statement or the trust account audit report relates.