New South Wales Consolidated Acts

WORKERS COMPENSATION ACT 1987 - SECT 82B

82B Indexation of certain amounts--according to average weekly earnings

(1) The amount
"A" is to be varied, in respect of the financial year beginning on 1 July 2012 and each subsequent financial year, in accordance with the formula--

"A" is the amount of $155 specified in sections 38, 40 and 41 or, if that amount has been varied in accordance with this section, that amount as last so varied.

"B" is the latest average weekly earnings as at 30 May in the preceding financial year of all employees for NSW published by the Australian Statistician in respect of the December quarter of that financial year or, if that is not available, the latest available quarter.

"C" is the average weekly earnings of all employees for NSW as at 30 May in the year preceding the preceding financial year published by the Australian Statistician in respect of the quarter preceding that 30 May corresponding to the quarter referred to above.

(2) The Authority is to declare, by order published on the NSW legislation website before the start of each financial year, the amount that is to apply for that financial year as the amount specified in sections 38, 40 and 41 as varied in accordance with this section.

(3) A declaration made by an order published on the NSW legislation website after the start of a financial year and specifying an amount that is to apply as the amount specified in sections 38, 40 and 41 for that financial year is to apply and has effect for that financial year.