Victorian Numbered Acts

WRONGS AMENDMENT ACT 2015 (NO. 62 OF 2015) - SECT 7

For section 28H of the Principal Act substitute —

        " 28H     Indexation of certain amounts—consumer price index

The amount specified in section 28G must be varied, in respect of the financial year beginning on 1 July 2016 and each subsequent financial year, in accordance with the formula—

where—

        A     is the amount specified in section 28G or, if that amount has been varied in accordance with this section, that amount as last so varied;

        B     is the all groups consumer price index for Melbourne in original terms for the most recent reference period in the preceding calendar year most recently published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made;

        C     is the all groups consumer price index for Melbourne in original terms for the corresponding reference period one year earlier than the reference period referred to in B published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made.

        28HAA     Indexation—no reduction

If the operation of section 28H has the effect of reducing the amount specified in section 28G—

        (a)     the variation is taken not to have taken effect, except for the purposes of the application of this section; and

        (b)     when the amount is varied and increased by operation of this section in respect of the next or a subsequent financial year, that variation has effect as an increase only to the extent (if any) to which the amount of the increase exceeds the amount of the reduction in respect of a preceding financial year, or that part of such a reduction that has not been set off against a previous increase.

        28HAAB     Indexation—rounding

If it is necessary for the purposes of section 28H to calculate an amount that consists of or includes a fraction of a whole number, the amount is taken to have been calculated in accordance with that section if the calculation is made—

        (a)     if the amount is less than $1000, to the nearest whole $1; or

        (b)     if the amount is $1000 or more, to the nearest whole $10.

Note

The amount specified in section 28G is equivalent to the amount provided by the Workplace Injury Rehabilitation and Compensation Act 2013 for the purposes of section 340(b)(ii) of that Act (limitation on awards of damages for pain and suffering). Sections 28H, 28HAA and 28HAAB have the same effect as the indexation provisions that apply to that amount under the Workplace

Injury Rehabilitation and Compensation Act 2013 . The amount, as indexed under that Act, is published annually in the Government Gazette.".