If a water access licence is held by a trust, the trustee must report the details of any foreign beneficiaries to the Minister within two months after the financial year ends

The Bill introduces a code of conduct for brokers who facilitate transactions involving water licences. Failure to comply with the code could result in public disclosure of the broker’s violation.

The Bill mandates the creation of a consolidated, publicly available water register. This register will compile information on water licences and make it easily accessible, enhancing transparency about who owns water resources in NSW?

There will now be a system of unique identifiers for water licences and dealings.

Irrigation corporations are required to be members of a prescribed dispute resolution body. This could be the Energy and Water Ombudsman NSW or another similar organization, ensuring that water users have a clear pathway for resolving disputes?