The Australian Competition and Consumer Commission has released three new publications to help traders in water understand their rights and responsibilities under the Trade Practices Act. ACCC Chairman, Graeme Samuel, said the volume of water trading had increased in recent years, with many irrigators relying on brokers or exchanges to make decisions regarding buying and selling water and to organise paperwork.
ACCC’s new guides for water traders
“The Trade Practices Act establishes fair trading obligations for water brokers and exchanges when they are dealing with their customers,” Mr Samuel said. “The ACCC's publications assist all parties understand where they stand.” He said Water trading – a guide to your fair trading rights when using brokers and exchanges included tips for irrigators when looking for a broker or exchange, examples of conduct likely to contravene the Act, information about remedies, and penalties for breaches of the Act and steps to resolve disputes. Mr Samuel said the ACCC had also issued a shorter overview of the rights, Water trading – an overview of your fair trading rights when using brokers and exchanges and a third publication, Water brokers and exchanges – your fair trading obligations, would help brokers and exchanges understand their obligations when dealing with irrigators. Irrigators, water brokers and exchanges could contact the ACCC Infocentre on 1300 302 502 or visit www.accc.gov.au to access a copy of the publications.
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