48IRequirements as to instrument allocating entitlement

48I Requirements as to instrument allocating entitlement An instrument allocating an entitlement under this Division may specify in relation to the entitlement allocated all or any of the following— (a) a means of quantifying the amount of water that the entitlement consists of; The means of quantifying the amount of water that the entitlement consists of may be by volume or by reference to the level of flow at a specified point or by reference to a share of flow or storage or by any other means or combination of means, and if the amount of water is quantified by reference to a share of storage, then by reference, for example, to— (i) the volumetric share of the system capacity of any system within the water system in which the entitlement is allocated; (ii) the share of inflow to any storage within the water system in which the entitlement is allocated; (iii) the volumetric share of releases from any storage within the water system in which the entitlement is allocated; (iv) the seepage and evaporative loss adjustments to be debited from the entitlement; (v) the share of inflow to be credited to the entitlement when the share of storage capacity of any storage within the area does not allow for a full share of inflow determined under subparagraph (ii) to be available— and if the amount of water is quantified by reference to a share of flow, then by reference, for example, to the share of flow past a specified point. (b) water accounting procedures for accounting for the water in the entitlement; (c) any condition imposed on the allocation of the entitlement under section 48J; (d) the class of reliability of the entitlement. S. 48J inserted by No. 99/2005 s. 24.