Legislative Council Fifty-Second Parliament, First Session (52-1) 52 1 Parliament of South Australia Legislative Council published Bills Statutes Amendment (Personal Property Securities) Bill STATUTES AMENDMENT (PERSONAL PROPERTY SECURITIES) BILL Committee Stage Committee Stage In committee. (Continued from 24 March 2011.) New Clause 50A. The Hon. S.G. WADE Legislative Council The Hon. S.G. WADE: I move: Page 21, after line 24—After clause 50 insert: Part 18A—Amendment of Natural Resources Management Act 2004 50A—Insertion of section 173A After section 173 insert: 173A—Water management authorisation is not personal property for the purposes of Commonwealth Act A water management authorisation is not personal property for the purposes of the Personal Property Securities Act 2009 of the Commonwealth. If I could remind the council that at our last meeting the opposition foreshadowed a potential amendment and the government kindly undertook to engage the relevant parts of government that might be able to identify whether there were any problems foreseen with such an amendment. So, with your leave, Mr Acting Chairman, I would ask the minister whether he has any further advice on the implications of the amendment. The Hon. B.V. FINNIGAN Legislative Council The Hon. B.V. FINNIGAN: In relation to the amendment proposed by the Hon. Mr Wade, I can advise the amendment is not opposed by the government. Although section 6(4) of the Personal Property Securities (Commonwealth Powers) Act 2009 provides for the state to refer power to the commonwealth over security interests in transferable water rights, the water subgroup of the COAG Working Group on Climate Change and Water agreed that, to avoid inconsistencies between the water registers and the proposed national PPS register, security interests in water rights it should be excluded from the PPS register. Given that nationally consistent registers are being established as part of the National Water Initiative and comprehensive legislative schemes for management of water resources (including how users acquire and transfer water rights) have been developed across the states, it is most unlikely that states will commence section 6(4) of the referral act. So the proposed amendment will have no effect. I am advised that the Department for Water agrees that the amendments will not have any material effect, so they have no opposition to it. I thank the officials of the department for their prompt consideration of the matter. The Hon. S.G. WADE Legislative Council The Hon. S.G. WADE: I would like to thank the minister for taking the trouble to get the advice and the officers for the advice; we welcome it. New clause inserted. Remaining clauses (51 to 67) and title passed. Bill reported with amendment. Third Reading Third Reading The Hon. B.V. FINNIGAN Legislative Council Minister for Industrial Relations, Minister for State/Local Government Relations, Minister for Gambling The Hon. B.V. FINNIGAN (Minister for Industrial Relations, Minister for State/Local Government Relations, Minister for Gambling) (15:33): I move: That this bill be now read a third time. Bill read a third time and passed.