MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 100A
Indexation of particular amounts
MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 100A
Indexation of particular amounts
100A Indexation of particular amounts
(1) The Minister must, on or before 1 July 2011 and on or before 1 July in
each succeeding year, recommend to the Governor in Council the amounts that
are to be prescribed under a regulation as—
(a) the declared costs limit;
and
(b) the lower offer limit; and
(c) the upper offer limit.
(2) Each
amount recommended for a limit is to be the amount last prescribed under a
regulation for the limit adjusted by the percentage change in average weekly
earnings over the 12 months preceding the date of the recommendation and
rounded to the nearest ten dollar.
(3) However, if the percentage change in
average weekly earnings over the 12 months preceding the date of the
recommendation would reduce the amount prescribed as the limit or result in no
change to the amount, the Minister need not make a recommendation.
(4) If the
percentage change in average weekly earnings mentioned in subsection (2) is
not available from the Australian Statistician, the Minister must advise the
Governor in Council accordingly.
(5) If the Minister advises the Governor in
Council of the unavailability of the percentage change under subsection (4) ,
the amount prescribed as the limit is the amount decided by the Governor in
Council.
(6) A regulation notified after 1 July in a year and specifying a
date that is before the date it is notified as the date from which the amount
prescribed as the limit is to apply has effect from the specified date.
