Queensland Consolidated Acts

PERSONAL INJURIES PROCEEDINGS ACT 2002 - SECT 75A

75A Indexation of particular amounts

(1) The Minister must, before each financial year starts, make a notice for the financial year fixing—

(a) an amount as the declared costs limit; and

(b) an amount as the lower offer limit; and

(c) an amount as the upper offer limit.

(2) The amount fixed for a limit is to be the amount last fixed by the Minister for the limit adjusted by the percentage change in average weekly earnings between the current financial year and the last financial year and rounded to the nearest 10 dollars (rounding one-half upwards).

(3) However, subsection (4) applies if—

(a) the percentage change in average weekly earnings between the current financial year and the last financial year would reduce or would not change the amount fixed as the limit; or

(b) the percentage change in average weekly earnings between the current financial year and the last financial year is not available from the Australian Statistician.

(4) The Minister must fix an amount for the limit that is not less than the amount for the limit last fixed by the Minister.

(5) The Minister’s notice is subordinate legislation.

(6) Despite subsection (1) , the Minister may make a notice for a financial year, after 1 July in the financial year, that has retrospective operation to 1 July in the financial year.

(7) Subsection (6) applies despite the Statutory Instruments Act 1992 , section 34 .

(8) In this section—

"current financial year" , for a notice, means the financial year immediately before the financial year for which the notice is made.

"last financial year" , for a notice, means the financial year immediately before the current financial year.