Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 5   Corporate status of bodies

Part 4   Other bodies continuing as bodies corporate

Water Act 2007

95   Section 174

Repeal the section, substitute:

174 Amounts payable by the Commonwealth

(1) The Commonwealth must pay to the Authority, for the purposes of the Murray-Darling Basin Special Account, an amount equal to any amount paid by the Authority in discharging any liability of the Authority arising:

(a) from an act or omission in the bona fide execution of the powers vested in the Authority by or under the Agreement; or

(b) because of the operation of section 239F, 239J or 239K (about transitional matters relating to the Murray-Darling Basin Commission).

(2) For the purposes of the Agreement, treat a payment by the Commonwealth under subsection (1) as a payment made in respect of losses or costs incurred by the Commonwealth arising:

(a) if the payment relates to a liability of the Authority arising as described in paragraph (1)(a) - as described in paragraph (1)(a); or

(b) if the payment relates to a liability of the Authority arising as described in paragraph (1)(b) - as described in paragraph (1)(b).

(3) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.