For the purposes of
sections 424(1) and 538 of the Act, the maximum amount of damages for
less than 25% impairment must be calculated by —
(a) for
the financial year commencing on 1 July 2024 —varying the
amount of $530 724 by the percentage by which the WPI varied between the
second‑last December quarter before the financial year commenced and the
last December quarter before the financial year commenced; or
(b) for
the financial year commencing on 1 July 2025 and for each financial
year after that — varying the amount for the previous financial
year by the percentage by which the WPI varied between the second‑last
December quarter before the financial year commenced and the last December
quarter before the financial year commenced.
Note for this regulation:
Under
section 538(5) of the Act, if a variation of an adjustable amount would
reduce the amount for a particular period, the amount must not be varied.