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All Current and Past Media Releases
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Media Release - Department of Water and Energy Date: 16 April 2008 NEW ONLINE TOOL ENABLES QUICK START TO WATER TRADING Minister for Water Nathan Rees has launched a new online tool that cuts red tape and enables water licence holders to make a quicker start to water trading.
NSW water access licence holders may temporarily or permanently trade part or all of their licensed water entitlement on the water trading market.
Before entering the market for the first time, licensees must first find out if anyone has a security interest in their water access licence, agree on how these interests will be resolved, and obtain a Water Access Licence Certificate from the Department of Lands.
Previously this was done via a written application processed manually and could take up to three weeks to resolve, but the new online Security Interests Conversion facility enables interests to be resolved over the Internet, delivering an outcome within days.
This improvement will enable licensees to move more quickly to enter the water trading market to maximise commercial benefits.
The Security Interests Conversion tool was developed by the Department of Water and Energy and can also be used by interest holders to lodge existing interests for registration on the Water Access Licence Register.
This is part of the Iemma Government’s commitment to cut red tape and reduce the administration burden on NSW businesses.
Stakeholders are encouraged to get online to find out if a person or company has an interest in your water access licence or to register your interests via this new online tool.
Other water management activities would be brought online soon, including a new ‘Water Applications Online’ system to be operational by mid 2008.
The ‘Water Applications Online’ system will reduce the waiting period for permanent water dealing approvals by up to seven days.
Users will be able to submit applications for permanent water dealings over the Internet, loading the details directly into the Department of Water and Energy’s licensing database for processing. Strict environmental controls will remain in place under the Water Management Act 2000 to ensure that all water dealings are sustainable.
The new online Security Interests Conversion tool can be accessed via the Department of Water and Energy’s website: http://www.naturalresources.nsw.gov.au/water/act_security.shtml
© NSW Department of Natural Resources
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