The maximum rate for the new water allocation must be—
(a) if the water licence being converted states the volume of water that may be taken under the licence in a day—the stated volume; or
(b) if paragraph (a) does not apply, but the water licence being converted states a maximum volume of water, expressed in litres, that may be taken under the licence in a second—the volume, expressed in megalitres, calculated by multiplying the stated maximum volume by 0.0864 and rounded to the nearest 1 decimal point; or
(c) otherwise—the maximum rate decided by the chief executive after considering the matters stated in section 43 .
Note—See also the Water Regulation 2016 , sections 50 to 52 .