Commonwealth Numbered Regulations

1991 No. 81 CHILD SUPPORT (ASSESSMENT) REGULATIONS (AMENDMENT) - REG 4

  4.1   After regulation 8, insert:
Conversion of periodic amounts into annual rates

"8A. If a child support agreement refers to a periodic amount of payment (in
this regulation referred to as 'the periodic amount') the annual rate of
payment (in this regulation referred to as 'the annual rate') in respect of
the periodic amount is to be assessed as follows:

   (a)  in the case of a daily amount-in accordance with the following
        formula: PA x 365.25 = AR; and

   (b)  in the case of a weekly amount-in accordance with the following
        formula: PA x 365.25 = AR; and

   (c)  in the case of a periodic amount that is in respect of a period that
        is a multiple of one week-in accordance with the following formula: PA
        x 365.25 = AR; and
7 x NW

   (d)  in the case of a monthly amount-in accordance with the following
        formula: PA x 365.25 = AR; and
30.4375

   (e)  in the case of a periodic amount that is in respect of a period that
        is a multiple of one month-in accordance with the following formula:
        PA x 365.25 = AR; and
30.4375 x NM

   (f)  in the case of a yearly amount-in accordance with the following
        formula: PA = AR; where:
AR is the annual rate; and
NM is the number of months in respect of which the periodic amount is
specified; and
NW is the number of weeks in respect of which the periodic amount is
specified; and
PA is the periodic amount.".