Commonwealth Numbered Acts Commonwealth Numbered Acts(1) The Commonwealth Environmental Water Holder must not dispose of water and Commonwealth environmental water holdings during a water accounting period unless the water or the water holdings:
(a) are not required in the water accounting period to meet the objectives of:
(i) if the water is in, or the water holdings relate to water in, the Murray‑Darling Basin--the environmental watering plan; or
(ii) if the water is in, or the water holdings relate to water in, an area outside the Murray‑Darling Basin--any plans specified in the regulations in relation to that area; or
(iii) any applicable environmental watering schedules; and
(b) cannot be carried over into the next water accounting period.
(2) However, this section does not apply to a disposal of water or Commonwealth environmental water holdings if water or Commonwealth environmental water holdings acquired with the proceeds of the disposal will improve the capacity of the Commonwealth environmental water holdings to be applied to meet the objectives of one or more of the following:
(a) the environmental watering plan;
(b) a plan specified in the regulations in relation to an area outside the Murray‑Darling Basin;
(c) protecting or restoring the environmental assets of an area outside the Murray‑Darling Basin in relation to which those regulations do not specify a plan.