Improving market confidence in water brokers
Project details
| Objective: | To investigate national and jurisdictional governance arrangements for the conduct of market intermediaries and appropriate governance options. |
| Funding: | Up to $100,000 plus applicable GST from the Australian Government towards costs associated with supporting the work program. Total value of the project is up to $100,000. |
| Jurisdiction: | National |
| Commenced: | December 2006 |
| Completed: | July 2007 |
Progress
About the project
This project investigated national and jurisdictional governance arrangements for the conduct of market intermediaries and appropriate governance options in 2007. The legislative and administrative arrangements protecting water market participants from potential fraud and inappropriate dealings were examined to determine the extent of protection provided by existing arrangements. Potential intermediary governance tools were analysed, bearing in mind the need to balance the goal of reinforcing market confidence while minimising market transaction costs.
Project benefits
This project helped facilitate the development of water markets as required under the National Water Initiative (NWI). There were no specific arrangements in place for licensing water brokers. This project exposed current issues of intermediary conduct with a view to determining the most appropriate options for governments and/or industry to adopt in order to improve market confidence for buyers and sellers in water.