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WORKERS' COMPENSATION AND REHABILITATION ACT 2003 - SECT 174
Calculation of redemption payment
174 Calculation of redemption payment
(1) The amount of a redemption payment
that the insurer may pay to a worker is an amount that is not more than the
amount calculated under the following formula—
(156 x Q) – TWP
(2) In subsection (1) —
"Q" is 70% of QOTE.
"TWP" means the total weekly payments already paid to the worker.
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