Commonwealth Consolidated Regulations

SAFETY, REHABILITATION AND COMPENSATION REGULATIONS 2002 - REG 6B

                For subsection 8 (9G) of the Act, the further increase in normal weekly earnings mentioned in subsection 8 (9F) is the amount (if any) calculated, to 3 decimal places and rounded up to 2 decimal places, in accordance with the formula:

                where:

F is the greater of the following:

                (a)    the number calculated, to 4 decimal places and rounded up to 3 decimal places, by dividing the index number by the previous index number;

               (b)    1.000.

"index number" is the index number of the index mentioned in regulation 6A for the quarter that ended on 31 December in the year immediately before the indexation date.

"PE" is the normal weekly earnings that applied immediately before the indexation date.

"previous index number" is the index number of the index mentioned in regulation 6A for the quarter that ended on 31 December in the previous year.

Note    Under the formula above, there will be a further increase in normal weekly earnings only if F is greater than 1.000.