The paper "The Queensland Water Act " is a good example of a finance and accounting assignment. The Queensland Water Act (2000) was amended to replace the previous Water Resources Act 1989 to avoid the ambiguity that was experienced with the previous one. However, Queensland water resources legal and planning was by far the most elaborate as compared to other states. The main objective of the Water was to separate water bodies from the surrounding land entitlements with the aim of implementing a water trading framework. It is therefore important that anybody who owns land near a water body be conversant with the Water Act regime especially pertaining to issues such as mining, irrigation, energy and other industrial projects.
The Water Act 2000 clearly states that the Act has the mandate to ensure the sustainable management of water and resources and the establishment and operation of water authorities and for other purposes. The Act binds all people including the state as provided for by the legislative power, the commonwealth and other states. However, under sub-section 1 of the Act, it does not apply to the operation of State Developments and Public Works Organization Act 1971 or the powers of the coordinator general under the State Development and Public Works Organization Act 1971. The landowner of a property with a non-tidal river does not own the water from the river although it passes through his property.
According to sub-section 1 of the Act, the state promotes sustainable development by allowing the sustainable use of water resources by the residents of Queensland for their economical, physical and social well being and by protecting biological biodiversity and the health of natural systems.
With the aim of achieving sustainable management, the Water Act gives the state the power to own all water bodies and their surrounding banks regardless of whether they pass through private property. As a result, all rights to use, flow and control water in Queensland rests with the state. The provision is clearly stated in section 24(1) that, “ beds and banks of all watercourses and lakes forming all or part of the boundary of land are and always have been the property of the state. ”
Actions Property Solutions, New Qld Resumption Compensation Laws - Biggest Changes in 40yrs, 2009. Retrieved on 31st August, 2009 from www.actionproperty.net
S. A. Christensen, W. M. Dixon, and W. D. Duncan, 2007 Queensland Land Acquisition Act.
Kurtz, Sheldon F., and Herbert Hovenkamp. 2003. Cases and Materials on American Property Law. 4th ed. St. Paul, Minn.: West.
Ralph Warner, Toni Lynne Ihara, Frederick Hertz, 2008, A Legal Guide to Unmarried Couples.