Records to be kept about information provided
135N Records to be kept about information provided
A person who is required to ensure that information about the trade or transfer of an eligible tradeable water right is provided to a water market authority under section 135M (see subsection 135M(2)) must keep the following records in relation to the information that is provided:
records of the reason for the trade or transfer, including records substantiating or supporting the reason;
records of the price for which the eligible tradeable water right was traded or transferred, including records substantiating or supporting the price;
such other information (if any) as is prescribed by the regulations.
The person must keep the records for a period of at least 5 years beginning on the date on which the information was provided under section 135M.
A person is liable to a civil penalty if the person contravenes subsection (1) or (2).
Civil penalty: 120 penalty units.
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