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Water shares. A water share is an ongoing entitlement to a share of the water available in your water system. It gives you a right to a share of water in the dams. Features of a water share include. 1  its water system, such as the Goulburn, Murray or Macalister. 2  its reliability, and. 3  the volume, such as 100 megalitres (ML).
Until 30 June 2014 Victoria maintained an annual 4% limit on the volume of water shares traded out of irrigation districts in northern Victoria, in compliance with the National Water Initiative. An explanation of the 4% limit is available in the water dictionary.Click here to see the final status of the 4% limit for each irrigation district in previous years. A disassociated water share is a share that does not have a nominated water-use licence for the allocations to be used on.These water shares are held independently from land. Trading rule 25 places limits on your ability to trade allocations into the allocation bank account attached to a disassociated water share.ntil 30 June 2014 Victoria maintained an annual 4% limit on the volume of water shares traded out of irrigation districts in northern Victoria, in compliance with the National Water Initiative. An explanation of the 4% limit is available in the water dictionary.