Summary
Amends the National Water Commission Act 2004 to: continue the National Water Commission (NWC) beyond its current sunset date of 30 June 2012; revise the functions and operations of the NWC; close the Australian Water Fund (AWF) Account and remove the NWC’s ability to administer any AWF funds; reduce the number of NWC commissioners to five; provide for a review of the NWC’s performance by the end of 2017, with further reviews every five years; and make technical amendments.