Western Australian Current Acts

TRANSPORT (ROAD PASSENGER SERVICES) ACT 2018 - SECT 232

232 .         Amount of buyback payment: taxi plates purchased before 1 January 2016 and held at 2 November 2017

        (1)         This section applies to determine a buyback payment in relation to taxi plates purchased before 1 January 2016 and held at 2 November 2017.

        (2)         Subject to section 233, the buyback payment for the taxi plates is to be determined in accordance with the following formula —

        where —

                A         is the greater of the floor payment for the taxi plates and the net loss associated with the taxi plates;

                B         is any outstanding fees in relation to the taxi plates;

                BP         is the buyback payment for the taxi plates;

                C         is any Hardship Fund payment paid to an owner of the taxi plates.