Commonwealth Numbered Acts

LANDS ACQUISITION ACT 1989 No. 15 of 1989 - SECT 126

126. (1) In this section:

"index number", in relation to an index year, means the All Groups Consumer
Price Index number, being the weighted average of the 8 capital cities,
published by the Australian Statistician in respect of that index year;

"index year" means a period of 12 months commencing on 1 April.

(2) Where the factor ascertained in accordance with subsection (4) in relation
to a financial year is greater than one, section 61 has effect as if, for the
amount of $10,000 specified in subsection 61 (2), there were substituted, on
the first day of that financial year, an amount calculated by multiplying the
existing amount by that factor.

(3) For the purpose of subsection (2), the existing amount is:

   (a)  if, because of the operation of subsection (2), section 61 already has
        effect as if an amount were substituted for the amount of $10,000
        specified in subsection 61 (2) - the substituted amount; and

   (b)  in any other case - $10,000.

(4) The factor to be ascertained for the purpose of subsection (2) in relation
to a financial year is the number (calculated to 3 decimal places) ascertained
by dividing the index number for the index year that ended on the 31 March
preceding the commencement of that financial year by the index number for the
previous index year.

(5) Where a factor ascertained under subsection (4) would, if calculated to 4
decimal places, end with a number greater than 4, the factor ascertained shall
be taken to be the factor calculated to 3 decimal places and increased by
.001.

(6) Subject to subsection (7), if at any time, whether before or after the
commencement of this Act, the Australian Statistician has published or
publishes an index number in respect of an index year in substitution for an
index number previously published in respect of the same index year, the
publication of the later index number shall be disregarded for the purposes of
this section.

(7) If at any time, whether before or after the commencement of this Act, the
Australian Statistician has changed or changes the reference base for the
Consumer Price Index, then, for the purposes of the application of this
section after the change, regard shall be had only to the index number
published in terms of the new reference base.