24   Lower Darling

(1)  On 1 July 2004, a general security entitlement with respect to the Lower Darling is taken to have been replaced not only by the relevant access licence referred to in Schedule 11 to the Act but also by a supplementary water access licence with a share component calculated in accordance with the following formula:

where:

S represents the share component for the supplementary water access licence, expressed in megalitres.

E (the base amount under this subclause) represents the greatest volume of water (in megalitres) taken in excess of the entitlement in any water year between 1 July 1983 and 30 June 2001.

ΣE represents the sum of the base amounts under this subclause for all general security entitlements with respect to the Lower Darling.

(2)  In this clause, a reference to the Lower Darling is a reference to the Lower Darling regulated river water source identified in the Water Sharing Plan for the Murray and Lower Darling Regulated Rivers Water Sources 2003, as in force on 1 July 2004.