The Water Act 2007 required the Murray-Darling Basin Authority to prepare a strategic plan for the integrated and sustainable management of water resources in the Murray-Darling Basin, called the Basin Plan.
The Basin Plan had to include rules for the trading or transfer of tradeable water rights relating to Murray-Darling Basin water resources, called the water trading rules.
Under the Water Act the Murray-Darling Basin Authority is to obtain and have regard to advice by the ACCC on the water trading rules.
The Murray-Darling Basin Authority will be responsible for monitoring and enforcing compliance with the water trading rules.