(1) Each member is entitled to an allowance under this regulation.
(2) The amount of the allowance payable under subregulation (1) is—
(a) for the financial year beginning 1 July 2013—
(i) $35 930 per annum if the member's electorate is listed in Schedule 1; or
(ii) $39 010 per annum if the member's electorate is listed in Schedule 2; or
(iii) $43 040 per annum if the member's electorate is listed in Schedule 3, 4 or 5; or
(b) for each subsequent financial year, an amount calculated (to the nearest dollar) in accordance with the following formula—
where—
A is the relevant amount set out in subregulation (2)(a) or, if that amount has been varied in accordance with this paragraph, that amount as last so varied;
B is the All Groups Consumer Price Index number for Melbourne for the December quarter in the preceding financial year as last published by the Australian Bureau of Statistics for that quarter;
C is the All Groups Consumer Price Index number for Melbourne for the December quarter in the financial year preceding the financial year referred to in B as last published by the Australian Bureau of Statistics for that quarter.