Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) In this chapter:
"awe indexed", for an amount, means the amount as adjusted in line with any adjustment in the AWE after the commencement of the provision in which the amount appears.
"CPI" means the All Groups Consumer Price Index (Canberra) issued by the Australian Statistician.
Note In June 2001, this was series 6401.0.
"cpi indexed", for an amount, means the amount as adjusted in line with any adjustment in the CPI since the commencement of the provision in which the amount appears.
Note AWE is defined in the dict.
(2) However, if an amount to be awe indexed or cpi indexed would, if adjusted in line with the adjustment (the negative adjustment ) to the AWE or CPI, become smaller, the amount is not reduced in line with the negative adjustment.
(3) An amount that, in accordance with subsection (2), is not reduced may be increased in line with an adjustment in the AWE or CPI that would increase the amount only to the extent that the increase, or part of the increase, is not one that would cancel out the effect of the negative adjustment.
(4) Subsection (3) does not apply to a negative adjustment once the effect of the negative adjustment has been offset against an increase in line with an adjustment in the AWE or CPI.
Example of adjustments
An amount in a section is $100 cpi indexed.
There is a 20% increase in the CPI after the section commences. The amount in the section becomes $120 (100 + 20%).
There is then a 10% drop in the CPI. The amount does not change from $120 (although if it had changed it would be $108).
There is a 20% increase in the CPI. The 20% increase is not to the $120, but to the $108. $108 + 20% = $129.60. So the $120 becomes $129.60. This is the amount ($120) increased by so much of the 20% increase that did not cancel out the effect of the adjustment down to $108.
Note An example is part of the Act, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).