Book excerpt: Dealing with critical issues of ownership, control and use of water as a resource, AUSTRALIAN WATER LAW offers practical and up-to-date guidance in an increasingly important area. Interconnected with property law and environmental law, water poses special regulatory challenges because of its character and potential; it also poses opportunities for disputes and litigation. A complex web of state and federal legislation seeks to manage and protect water and water rights, challenging practitioners who are advising on matters like access rights, statutory water entitlements, water planning and resource protection. Commercially, water law affects a widening range of infrastructure development and management projects, while the development of a national water market offers opportunities in trading of water rights, and risks and controls. Kate Stoeckel, Romany Webb and Luke Woodward bring to bear their considerable legal experience in matters involving water rights as well as regulation of the water and sewerage industry and Amy Hankinson offers her significant expertise in environmental law and water management.