Victorian Consolidated Legislation

Wrongs Act 1958 - SECT 28H

Indexation of maximum amount for non-economic loss

28H. Indexation of maximum amount for non-economic loss



(1) The amount that is to apply for the purposes of section 28G is to be
varied, in respect of the financial year beginning on 1 July 2003 and each
subsequent financial year, in accordance with the formula-

where-

D is the amount referred to in section 28G.

E is the all groups consumer price index for Melbourne as at 15 June in the
preceding financial year last published by the Australian Statistician in
respect of the December quarter of that financial year.

F is the all groups consumer price index for Melbourne as at 15 June in the
year preceding the preceding financial year published by the Australian
Statistician in respect of the December quarter preceding that 15 June.

(2) If it is necessary for the purposes of this section to calculate an amount
that consists of or includes a fraction of a whole number, the amount is
deemed to have been calculated in accordance with this section if the
calculation is made-

   (a)  if the amount is less than $1000, to the nearest whole $1; or

   (b)  if the amount is $1000 or more, to the nearest whole $10.

(3) If an amount is varied in accordance with this section, section 28G and
this section have effect as if a reference to the amount were a reference to
the amount as so varied.

(4) If the variation of an amount to which this section applies by operation
of this section has the effect of reducing the amount-

   (a)  the variation is deemed not to have taken effect, except for the
        purposes of the application of this subsection; and

   (b)  when the amount is varied and increased by operation of this section
        in respect of the next or a subsequent financial year that variation
        has effect as an increase only to the extent (if any) to which the
        amount of the increase exceeds the amount of the reduction in respect
        of a preceding financial year, or that part of such a reduction that
        has not been set off against a previous increase.