(1) A registrable water entitlement of a person is any of the following rights that the person holds (alone or jointly):
(a) an irrigation right (within the meaning of the Water Act 2007 ) that relates to a water resource in Australia;
(b) a right (including an Australian water access entitlement) conferred by or under a law of a State or Territory to do either or both of the following:
(i) to hold water from a water resource in Australia;
(ii) to take water from a water resource in Australia.
(2) However, a registrable water entitlement does not include:
(a) stock and domestic rights; or
(b) riparian rights; or
(c) water allocations; or
(d) a right of a kind specified in the rules.