I really don't understand why such or similar system isn't often used by forum members. I watched numerous reports here but mostly I found simple spillway with pipe to avoid too much water. Nothing more.

I understand that it costs more but I'm sure it might be useful sometimes.
Advantages:
1)drain the pond if you want to clean it;
2)drain the pond to get rid of unnecessary fish, animals and reptiles;
3)raise or lower water level to make better places for fish to spawn roe.