(1) The FWC must conduct and complete an annual wage review in each financial year.
Note 1: The FWC must be constituted by an Expert Panel to conduct annual wage reviews, and to make determinations and orders in those reviews (see section 617).
Note 2: The President may give directions about the conduct of annual wage reviews (see section 582).
(2) In an annual wage review, the FWC:
(a) must review:
(i) modern award minimum wages; and
(ii) the national minimum wage order; and
(b) may make one or more determinations varying modern awards to set, vary or revoke modern award minimum wages; and
(c) must make a national minimum wage order.
Note: For provisions about national minimum wage orders, see Division 4.
(3) In exercising its power in an annual wage review to make determinations referred to in paragraph (2)(b), the FWC must take into account the rate of the national minimum wage that it proposes to set in the review.