Security interests
The Department for Environment and Water (DEW) administers the Landscape South Australia Act 2019 along with the Landscape South Australia (Water Register) Regulations (2020).
This legislation enables The Water Register, which is also administered by DEW. The Water Register is contained within and made available through the mywater portal.
From 1 July 2022, the legislation allows for security interests, caveats and other administrative improvements to The Water Register. Financiers will be able to lodge security interests against water licences directly on The Water Register via mywater.
What is a security interest?
A security interest is a record made against a water management authorisation on The Water Register that secures the payment of a debt or the performance of some other obligation under a contract or other legally enforceable arrangement.
Security Interests:
• Provide the holder of the security interest with a legislative mechanism for the enforcement of the security interest in the case of a default by the holder of the interest in the water management authorisation to which the security interest relates
• Provide that certain dealings relating to the interest in the water management authorisation require the consent of the security interest holder
• Provide that a transfer of the water management authorisation does not expire the security interest unless the security interest is discharged beforehand
• Give priority to a security interest over other security interests in the order in which they are lodged, and over all unregistered interests
• Expire automatically 15 years after the date of registration (unless renewed or discharged earlier)
Security interests cannot be recorded against a water allocation, a delivery capacity entitlement, a site use approval or a water resource works approval
How to lodge a security interest in mywater
[%%%%]
Useful links
Legislation
• Landscape South Australia Act 2019
• Landscape South Australia (Water Register) Regulations 2020
