Landscape South Australia (Water Register) Regulations 2020

A prescribed bill of sale will, on the designated date, be taken to be a security interest registered under

Schedule 4 clause 8 of the Act.

The term of a security interest under subregulation (1) will be equal to the balance of the term of the bill of sale, as determined on the designated date.

The order of priority between 2 or more bills of sale that relate to the same water licence and that are to be registered under this regulation will be an order that corresponds to their order of priority under the

Bills of Sale

Act 1886.

In this regulation—

designated date means

1 July 2022;

expiration date, in relation to a bill of sale, means the date that is 5 years after the last registration or renewal of registration (as the case may be) of the bill of sale under the

Bills of Sale

Act 1886;

prescribed bill of sale means a bill of sale over a water licence registered under the Bills of Sale Act 1886 immediately before the designated date with an expiration date under the

Bills of Sale

Act 1886 that is on or after the designated date.