(1) The authority has the following functions under this Act:
(a) to keep the state and condition of the water resources of the Territory under review;
(b) to coordinate policies in relation to water resource management;
(c) to regulate the allocation of water from waterways;
(d) to compile and maintain up-to-date information about the water resources of the Territory;
(e) to promote the importance, and encourage the efficient use, of water resources;
(f) to foster public education about the management of water resources;
(g) to implement national water resource measures made under national scheme laws or intergovernmental agreements relating to water resource management;
(h) to confer, and exchange information, with any entity having functions corresponding to those of the authority under a law of the Commonwealth, a State or another Territory relating to water resource management;
(i) any other functions given to the authority under this Act.
(2) In exercising the authority's functions under this Act, the authority must have regard to the objects set out in section 6 and, where appropriate, promote an integrated approach to water resource management, environment protection and water catchment management.