Military Rehabilitation and Compensation (Lump Sum Rate of Interest) Determination 2016 (Cth)

Australian Government

MILITARY REHABILITATION AND COMPENSATION (LUMP SUM RATE OF INTEREST) DETERMINATION 2016

Instrument No. M8 of 2016

I, DAN TEHAN, Minister for Veterans’ Affairs, under subsection 79(3) of the Military Rehabilitation and Compensation Act 2004, determine that:

1. The Instrument entitled the “Military Rehabilitation and Compensation (Determination of Rate of Interest) Determination 2006 (Instrument No. M18 of 2006) and made by the then Minister for Veterans’ Affairs, Bruce Billson, on 6th July 2006 is revoked.

2. The rate of interest for the purposes of subsection 79(3) of the Military Rehabilitation and Compensation Act 2004 is 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.

3.         This determination commences on the day after it is registered.

Dated this       20th     day of      April            2016

Dan Tehan

DAN TEHAN
MINISTER FOR VETERANS’ AFFAIRS