Safety, Rehabilitation and Compensation (Rate of Interest Payable-s26(3)) Notice 2016 [F2016L00464]-Response required [2016] AUSStaCSDLM 134 (3 May 2016)

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Instrument	Safety, Rehabilitation and Compensation (Rate of Interest Payable – s26(3)) Notice 2016 [F2016L00464]
Purpose	Specifies the rate of interest payable on lump sum payments to claimants for injuries which result in permanent impairment (under the Safety, Rehabilitation and Compensation Act 1988) which are not paid within thirty days after assessment
Last day to disallow	15 sitting days after tabling (18 April 2016)
Authorising legislation	Safety, Rehabilitation and Compensation Act 1988
Department	Employment
Scrutiny principle	Standing Order 23(3)(a)

Drafting

The Safety, Rehabilitation and Compensation Act 1988 (the Act) establishes the Commonwealth workers’ compensation and rehabilitation scheme for employees of the Commonwealth, Commonwealth authorities and licensed corporations. This instrument sets the rate of interest payable in respect of permanent impairment payments to a claimant under section 24 or 25 of the Act which are not made within thirty days after the date of assessment of the amount of permanent impairment.

Section 4 of the instrument states:

The rate of interest payable under subsection 26(3) of the Act is specified to be the weighted average yield of 90 day bank-accepted bills, as published by the Reserve Bank of Australia, settled immediately prior to the last day of the thirty day settlement period.

However, it is unclear to the committee which specific published material or documents this section refers to, the manner in which this published material is incorporated and where it can be accessed. Neither the text of the instrument nor the ES provides any information in relation to these matters.

The committee notes the importance of the published material as a point of access to understanding the regulation and is concerned about the ability of anticipated users or persons affected by the instrument to understand its operation.

The committee requests the advice of the minister in relation to this matter