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WORKERS' COMPENSATION AND INJURY MANAGEMENT ACT 1981 - SECT 68

WORKERS' COMPENSATION AND INJURY MANAGEMENT ACT 1981 - SECT 68

68 .         Calculation of lump sum for s. 67(4)

[(1)-(2)         deleted]

        (3)         Where the liability for an incapacity is to be redeemed under section 67(4), the lump sum shall be calculated by taking the amount that is equal to the prescribed amount less weekly payments, if any, made and discounting the amount so taken in accordance with a compound discount table prescribed by regulations.

        (4)         A reference in this section to a compound discount table shall be construed as including a reference to any formula or formulae prescribed for use in conjunction with such a compound discount table.

        [Section 68 amended: No. 44 of 1985 s. 22; No. 48 of 1993 s. 37; No. 33 of 1999 s. 5; No. 34 of 1999 s. 15.]